Rights of Surety | Section-140,141,145 | Contract of Guarantee (Contract Act 1872)

Hey Everyone! In this video the concept of "Contract of Guarantee" is explained with reference to Rights of Surety alongwith illustrations of the Indian Contract Act 1872. Surety has rights against the following persons : 》Principal Debtor •Rights of surety on payment or performance or Right of Subrogation (Section-140) •Implied promise to indemnify the surety or Right of Indemnity (Section-145) 》Creditor (Section-141) •Right against securities •Right to stand discharged from liability if creditor parts with or losses security. 》Co-sureties My courses • Law of Torts :    • Law of Torts   • Contract Act 1872 (General Contract)    • Contract Act 1872 (General Contract)   Link of previously covered chapters is below 1) Contract of Indemnity (Section-124)    • Contract of Indemnity | Section-124 (Contr...   2) Contract of Indemnity (Section-125)    • Contract of Indemnity | Section-125 (Contr...   3) Contract of Guarantee (Section-126)    • Contract of Guarantee defined | Section-12...   4) Essentials of a valid contract of guarantee (Section-127,142,143)    • Essentials of a valid contract of Guarante...   5) Nature of surety's liability (Section-128)    • Nature of Surety's Liability | Section-128...   **************************************************** Hope you have enjoyed and learned in an easy way **************************************************** #contractact#section140,141,145#rightsofsurety#contractofguarantee