In a contract of guarantee, a person who promises to discharge another’s liability is known as

Related MCQs

• A contract in which a person promises to discharge the liability of another person, in case of default by such person, is known as a
• A contract in which one person promises to compensate the other for the loss suffered by him, due to the conduct of the promisor or of any other person, is known as
• Where a party to contract transfers his rights under the contract to another person, it is legally known as
• A person appointed to contract on behalf of another person is known as a/an
• Under the Contract Act, 1872 a person is said to be of sound mind for the purpose of making a contract if:
• When a person has done some work under a contract and the other party repudiates the contract, then the party who performed the work can claim remuneration for the work done. This is based on the principle of
• If a person accepts a lesser sum of money than what was contracted for, in the discharge of the whole debt, it is known as
• Claim for necessaries supplied to a person incompetent to contract, from the property of such person. It is covered under the concept of
• X contracts to sell his scooter to Y for Rs. 50,000 and Y agrees to pay on delivery. Both the parties perform their promises. This is called
• The promises forming consideration for each other are called