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Chandu agreed to sell a colour TV set to Pradeep under a
hire-purchase agreement on guarantee of Sunil and a pledge of
Pradeep’s furniture. The terms were: hire-purchase price Rs.
48,000 payable in 24 monthly instalments, ownership to be
transferred on the payment of last instalment. State whether
Sunil is discharged In each of the following alternative cases:
Case (b): if after seven months, Sunil die?
hire-purchase agreement on guarantee of Sunil and a pledge of
Pradeep’s furniture. The terms were: hire-purchase price Rs.
48,000 payable in 24 monthly instalments, ownership to be
transferred on the payment of last instalment. State whether
Sunil is discharged In each of the following alternative cases:
Case (b): if after seven months, Sunil die?
Most Upvoted Answer
Chandu agreed to sell a colour TV set to Pradeep under a hire-purchase...
Case (b): Sunil dies after seven months
In this case, if Sunil dies after seven months, his liability as a guarantor does not automatically come to an end. The legal position is that the death of a guarantor does not discharge his liability unless there is a specific clause in the contract stating so.
- Legal standpoint: According to Section 132 of the Indian Contract Act, the surety's liability continues even after his death unless there is a contract to the contrary.
- Guarantee agreement: Since Sunil agreed to be a guarantor for the hire-purchase agreement between Chandu and Pradeep, his estate would be liable to fulfill his obligations as a guarantor. Pradeep can still claim against Sunil's estate for any outstanding payments in case of default.
- Options for Pradeep: Pradeep can either seek payment from Sunil's legal heirs or request Chandu to release Sunil from the guarantee and find a new guarantor. Chandu may agree to release Sunil if Pradeep provides an alternate guarantor or additional security to cover the remaining instalments.
In this case, if Sunil dies after seven months, his liability as a guarantor does not automatically come to an end. The legal position is that the death of a guarantor does not discharge his liability unless there is a specific clause in the contract stating so.
- Legal standpoint: According to Section 132 of the Indian Contract Act, the surety's liability continues even after his death unless there is a contract to the contrary.
- Guarantee agreement: Since Sunil agreed to be a guarantor for the hire-purchase agreement between Chandu and Pradeep, his estate would be liable to fulfill his obligations as a guarantor. Pradeep can still claim against Sunil's estate for any outstanding payments in case of default.
- Options for Pradeep: Pradeep can either seek payment from Sunil's legal heirs or request Chandu to release Sunil from the guarantee and find a new guarantor. Chandu may agree to release Sunil if Pradeep provides an alternate guarantor or additional security to cover the remaining instalments.
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Chandu agreed to sell a colour TV set to Pradeep under a hire-purchase agreement on guarantee of Sunil and a pledge of Pradeep’s furniture. The terms were: hire-purchase price Rs. 48,000 payable in 24 monthly instalments, ownership to be transferred on the payment of last instalment. State whether Sunil is discharged In each of the following alternative cases: Case (b): if after seven months, Sunil die?
Question Description
Chandu agreed to sell a colour TV set to Pradeep under a hire-purchase agreement on guarantee of Sunil and a pledge of Pradeep’s furniture. The terms were: hire-purchase price Rs. 48,000 payable in 24 monthly instalments, ownership to be transferred on the payment of last instalment. State whether Sunil is discharged In each of the following alternative cases: Case (b): if after seven months, Sunil die? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Chandu agreed to sell a colour TV set to Pradeep under a hire-purchase agreement on guarantee of Sunil and a pledge of Pradeep’s furniture. The terms were: hire-purchase price Rs. 48,000 payable in 24 monthly instalments, ownership to be transferred on the payment of last instalment. State whether Sunil is discharged In each of the following alternative cases: Case (b): if after seven months, Sunil die? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Chandu agreed to sell a colour TV set to Pradeep under a hire-purchase agreement on guarantee of Sunil and a pledge of Pradeep’s furniture. The terms were: hire-purchase price Rs. 48,000 payable in 24 monthly instalments, ownership to be transferred on the payment of last instalment. State whether Sunil is discharged In each of the following alternative cases: Case (b): if after seven months, Sunil die?.
Chandu agreed to sell a colour TV set to Pradeep under a hire-purchase agreement on guarantee of Sunil and a pledge of Pradeep’s furniture. The terms were: hire-purchase price Rs. 48,000 payable in 24 monthly instalments, ownership to be transferred on the payment of last instalment. State whether Sunil is discharged In each of the following alternative cases: Case (b): if after seven months, Sunil die? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Chandu agreed to sell a colour TV set to Pradeep under a hire-purchase agreement on guarantee of Sunil and a pledge of Pradeep’s furniture. The terms were: hire-purchase price Rs. 48,000 payable in 24 monthly instalments, ownership to be transferred on the payment of last instalment. State whether Sunil is discharged In each of the following alternative cases: Case (b): if after seven months, Sunil die? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Chandu agreed to sell a colour TV set to Pradeep under a hire-purchase agreement on guarantee of Sunil and a pledge of Pradeep’s furniture. The terms were: hire-purchase price Rs. 48,000 payable in 24 monthly instalments, ownership to be transferred on the payment of last instalment. State whether Sunil is discharged In each of the following alternative cases: Case (b): if after seven months, Sunil die?.
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