Bank has got general form of guarantee erroneously signed by the principal borrowing firm in thier fiduciary capacity as also in thier personal capacity. Feed is also signed by guarantors as stipulated in the sanction.Now when the borrowing firm and it's partners are principal debtors liable for the debt, why thiet signature is obtained as guarantor? will such guarantee signed by borrowing firm is legally valid? what will be position of other guarantors who have simultanrously signed the deed of guarantee? Is such guarantee deed enforceable in the eyes of law?
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