Draft a notice for the revocation of the Continuing Guarantee as per section 130 of the Indian Contract Act, 1872. Assume necessary facts, if required.
CS Professional · Drafting, Pleadings and Appearances · PYQS · June 2024
Draft a notice for the revocation of the Continuing Guarantee as per section 130 of the Indian Contract Act, 1872. Assume necessary facts, if required.
Answer & Explanation:
NOTICE TO DETERMINE CONTINUING GUARANTEE (Section 130 of the Indian Contract Act, 1872) To CD (Creditor) [Insert Creditor's Address] Dear Sir, I hereby give you notice that the guarantee dated the [Insert Day] day of [Insert Month] , 2024 which I executed in your favour for payment of all moneys which were then or at any time thereafter may be due to you from XY of [Insert Debtor's Address] on the balance of his account is hereby revoked and determined and I give you further notice that if you make any further advances or payments or give further credit to the said XY, you would do so on your own and the same shall have nothing to do whatsoever with the said guarantee which stands hereby revoked. Yours faithfully, AB (surety) [Insert Surety's Address]
Topics: Contract Law
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