Legal Question in Banking Law in India
is a guarantor liable under a demand guarantee if the principle debt is time barred and no demand has been made on the guarantor?
Asked on 2/21/11, 9:46 pm
2 Answers from Attorneys
J. Radhakrishnan
independent Practice
guarantor will be discharged, if no demand is made on the borrower as well as the guarantor within the time prescribed under the Limitation Act.
Answered on 2/23/11, 8:34 pm
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