Legal Question in Business Law in India
If anybody uses a assigned fixed deposit reciept as a gaurantee and if any liability comes against it . In such condition who has to bear it? Assignee or assigner.
Asked on 6/27/15, 9:38 pm
1 Answer from Attorneys
Fca Prashant Chavan
Expert Edge LLP
30.06.2015
Dear Sir / Madam,
If the assignee of a Fixed Deposit has provided the assigned Fixed Deposit receipt as a security to the Bank on account of being the guarantor, the assignee remains liable to bear the liability.
Regards,
Answered on 6/30/15, 6:40 am
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