ravi (Admin) 18 July 2008

personal guarentor

Hello,

In money recovery suit, what is the liability of PERSONAL GUARENTOR , in case of his
"DEATH' , prior to the filing of the suit. Whether LR's are to brought on the record.

If the answer is NO, suggest the citations

Thanks in advance

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6 Replies

Sukhija (Advocate) 18 July 2008

Personal Guarantor expires then no responsibility of Legal heirs. It is Personal Gaurantee.

J. P. Shah (RTI & CONSUMER ACTIVIST) 19 July 2008

I THINK, LEGAL REPRESENTATIVE/HEIRS ARE LIABLE TO THE EXTENT OF PROPERTY INHERITED FROM THE DECEASED GUARANTOR. U MAY REFER SEC 50 (2) OF CIVIL PROCEDURE CODE. THERE ARE 4 TO 5 JUDGEMENTS OF HIGH OR SUPREME OR DRT OR DRAT TO THIS POINT. I WILL TRY TO LOCATE AND LOAD THE SAME