X Bank wants to lend loan to Y client. Can accept personal guarantee of Z. Z is not a director , not a share holder , not a supplier ,no business or personal relationship with Y . Z personal guarantee is legally enforceable ?
Guru (Supervisor) 22 April 2010
X Bank wants to lend loan to Y client. Can accept personal guarantee of Z. Z is not a director , not a share holder , not a supplier ,no business or personal relationship with Y . Z personal guarantee is legally enforceable ?
Harisha Agrawal (Student) 23 April 2010
Yes such type of guarantee is acceptable & enforceable too. but the bank will accept only immovable property as third party guarantee.
bhuvanesh mohan (partner) 23 April 2010
Yes , the bank will accept P/G while giving loan to Y provided Z has net worth upto the level reqired
sanju (proprietor) 27 April 2010
my father grand father is farmer in gujrat during 1941-52 then after my he died my grand father has sold out with my uncle as both are the legal heir.now if I want to buy land in gujarat then can I buy as I have not record of farmer except my father grand father 7/12 where his name is there.
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