Legal Question in Banking Law in Pakistan
whether finance facilities can be renewed for regulatory purpose? legal efefct on suit for recovery of loan
Asked on 7/08/11, 11:32 pm
1 Answer from Attorneys
finance facilities can be renewed, purely dependent upon the parties to the issue. but guarantors may be exonerated from their financial guarantee( if any) they have extended in the original borrowing. suit for recovey only becomes maintainable when the amount or condition contingent becomes due.
Answered on 10/23/11, 11:18 am
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