A continuing guarantee given to a firm, or to a third party in respect of the transactions of a firm, is, in the absence of agreement to the contrary, revoked as to future transactions from the date of any change in the constitution of the firm.
Section 38: Revocation of continuing guarantee by change in firm.
The Indian Partnership Act, 1932Central Act · Act 9 of 1932
Where this provision sits
| Act | The Indian Partnership Act, 1932 |
|---|---|
| Section | 38 |
| Marginal note | Revocation of continuing guarantee by change in firm. |
| Jurisdiction | Central |
| Status | In force as published by the source |
| Judgments citing it | 1 |
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