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Under Section 28 of the Indian Contract Act, 1872, the meaning of 'Financial Institution' is mentioned…

The definition of financial institution appears in Explanation (ii) to Exception 3 of Section 28. That exception saves certain written guarantee terms made by banks or…

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Under Section 28 of the Indian Contract Act, 1872, the meaning of 'Financial Institution' is mentioned in -

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The definition of financial institution appears in Explanation (ii) to Exception 3 of Section 28. That exception saves certain written guarantee terms made by banks or financial institutions. Explanation (i) defines bank, whereas Explanation (ii) identifies the public financial institutions covered by the exception.

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