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

Related MCQs

• In a contract of guarantee, a person who promises to discharge another’s liability is known as
• 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
• If a contract provides for the payment of a certain amount on breach of a contract, such payment is termed as:
• Claim for necessaries supplied to a person incompetent to contract, from the property of such person. It is covered under the concept of
• Where the agent contracts for a principal, who is not competent to contract, in such a case the agent is
• 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
• A contract in which, under the terms of a contract, nothing remains to be done by either party is known as