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Under the Indian Contract Act, 1872, the death of the surety results in:

Section 131 of the Indian Contract Act, 1872 provides that the surety's death, "so far as regards future transactions", operates as a revocation of a continuing guarantee,…

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Under the Indian Contract Act, 1872, the death of the surety results in:

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Section 131 of the Indian Contract Act, 1872 provides that the surety's death, "so far as regards future transactions", operates as a revocation of a continuing guarantee, in the absence of any contract to the contrary. Liability for transactions already entered into survives and binds his estate.

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