Understanding Contracts and Guarantees

Explore the essentials of contracts under Indian law, including definitions, enforceability, and key elements like consent and competence. Delve into the Contract of Guarantee, highlighting roles, written and oral forms, and its unique tripartite nature. Understand surety liabilities, misrepresentation effects, and the role of past consideration. Famous legal cases such as Bank of Bihar v. Damodar Prasad and Punjab National Bank v. Vikram Cotton Mills provide practical insights into guarantee...