Bombay HC: Clarifies Procedure for Executing Foreign Decrees || Supreme Court: Bureaucratic Delay No Excuse || Supreme Court Grants Full Disability Pension Arrears to Veterans || Delhi HC: Workman Cannot Claim Section 17(B) of the ID Act Wages after Reaching Superannuation Age || Allahabad HC: Caste by Birth Remains Unchanged Despite Conversion or Inter-Caste Marriage || Delhi High Court: Tweeting Corruption Allegations Against Employer Can Constitute Misconduct || Delhi High Court: State Gratuity Authorities Lack Jurisdiction over Multi-State Establishments || Kerala High Court: Arrest Grounds Need Not Mention Contraband Quantity When No Seizure is Made || SC: Silence During Investigation Does Not Ipso Facto Mean Non-Cooperation to Deny Bail || Supreme Court: High Courts Cannot Re-Examine Answer Keys Even in Judicial Service Exams

Kerala HC: Right of Creditor to Have Bank Guarantee Invoked Only During Currency of Bank Guarantee - (29 Apr 2021)

CONTRACT

Kerala High Court has held that the right of a creditor to have the Bank Guarantee invoked is only during the currency of the Bank Guarantee and not during the extended claim period of one year. The Court has explained that the extended claim period, allowed pursuant to the insertion of Exception 3 to Section 28 of the Contract Act, 1872 could be claimed only when the bank guarantee was invoked during the validity of the Agreement or the Bank Guarantee.

Tags : KERALA HIGH COURT BANK GUARANTEE

Share :