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The surety stands discharged:
- a)by revocation
- b)by death
- c)by variance in terms of the contract without his consent
- d)in (a), (b) & (c) above.
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
The surety stands discharged:a)by revocationb)by deathc)by variance in...
Explanation:
- Discharge of surety: Surety is discharged when the liability of the surety under the contract comes to an end.
- By variance in terms of the contract without his consent: If there is any change in the terms of the contract without the consent of the surety, the surety is discharged from his obligations.
- Revocation: Surety may be discharged if the contract is revoked by the principal debtor without the consent of the surety.
- Death: If the surety dies, his obligations under the contract come to an end.
- Option (c) is correct: The surety stands discharged by variance in terms of the contract without his consent. This means if there is any change in the terms of the contract without the consent of the surety, he is relieved from his responsibilities.
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The surety stands discharged:a)by revocationb)by deathc)by variance in...
Understanding Surety Discharge
In the context of suretyship, a surety can be discharged from their obligations under certain circumstances. The correct option regarding the discharge of a surety is 'C', which relates to variance in terms of the contract without the surety's consent. Here’s a breakdown of the reasons:
1. Revocation
- The surety cannot discharge themselves merely through revocation, especially if they have already executed the bond. Once a surety has agreed to act, they are bound by the terms unless specific conditions are met.
2. Death
- The death of the surety does not automatically discharge them from the obligation, particularly if the suretyship was for a continuing obligation. The liability may pass to the estate of the deceased surety unless otherwise specified.
3. Variance in Terms
- A surety stands discharged when there is a variance in the terms of the original contract without their consent. This means if the principal debtor and the creditor agree to change the terms, the surety's obligations are altered, and they must have consented to these changes to remain liable.
Conclusion
- Therefore, the discharge of a surety occurs primarily through variance in contract terms without consent (option 'C'). This ensures that the surety is not held liable for obligations that have changed without their knowledge or approval. Understanding these nuances is crucial for anyone involved in suretyship agreements, especially in legal and financial contexts.
In the context of suretyship, a surety can be discharged from their obligations under certain circumstances. The correct option regarding the discharge of a surety is 'C', which relates to variance in terms of the contract without the surety's consent. Here’s a breakdown of the reasons:
1. Revocation
- The surety cannot discharge themselves merely through revocation, especially if they have already executed the bond. Once a surety has agreed to act, they are bound by the terms unless specific conditions are met.
2. Death
- The death of the surety does not automatically discharge them from the obligation, particularly if the suretyship was for a continuing obligation. The liability may pass to the estate of the deceased surety unless otherwise specified.
3. Variance in Terms
- A surety stands discharged when there is a variance in the terms of the original contract without their consent. This means if the principal debtor and the creditor agree to change the terms, the surety's obligations are altered, and they must have consented to these changes to remain liable.
Conclusion
- Therefore, the discharge of a surety occurs primarily through variance in contract terms without consent (option 'C'). This ensures that the surety is not held liable for obligations that have changed without their knowledge or approval. Understanding these nuances is crucial for anyone involved in suretyship agreements, especially in legal and financial contexts.
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The surety stands discharged:a)by revocationb)by deathc)by variance in terms of the contract without his consentd)in (a), (b) & (c) above.Correct answer is option 'C'. Can you explain this answer?
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