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Section 129 of the Indian Contract Act, 1872 deals with:

Section 129 of the Indian Contract Act, 1872 defines a 'continuing guarantee' as a guarantee which extends to a series of transactions, as in illustration (b), where a…

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Section 129 of the Indian Contract Act, 1872 deals with:

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Section 129 of the Indian Contract Act, 1872 defines a 'continuing guarantee' as a guarantee which extends to a series of transactions, as in illustration (b), where a guarantee covers tea that a tea-dealer may from time to time supply to a customer. Under s.130 it may be revoked for future transactions by notice to the creditor. Surety's liability is the tempting wrong choice, but it is dealt with in s.128, which makes it 'co-extensive with that of the principal debtor'.

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