Banking · Contracts of Guarantee
Under the Indian Contract Act, 1872, what is the legal term for a guarantee agreement that extends to a series of transactions, where the Surety reserves the right to revoke it for future transactions by giving notice to the Creditor?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Implied Guarantee
- 2Conditional Guarantee
- 3Continuing Guarantee✓
- 4Specific Guarantee
Correct answer
Continuing Guarantee
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