Allahabad High Court : Deceased Farmer’s Odd Jobs Don’t Bar Family from Scheme Benefits  ||  Secured Creditors' Dues Take Priority Over Govt Claims: Allahabad HC on SARFAESI & RDB Acts  ||  Daughter Can’t Claim Mitakshara Father’s Property if He Died Pre-1956 & Son Survives: HC  ||  Gujarat High Court: Sessions Court Can’t Suspend Sentence Just to Allow Revision Filing  ||  Delhi High Court: Non-Combat Security Roles Crucial; Minor Lapse Risks National Safety  ||  Punjab & Haryana HC: Allegation of Harassment Alone Insufficient to Prove Abetment to Suicide  ||  Orissa HC: Directors Liable under S.138 NI Act Despite Company’s Insolvency  ||  Bombay HC: GST Return Details of Company Exempt from Disclosure under RTI Act  ||  Chhattisgarh HC: Timely Appointment of Electronic Evidence Examiners Vital in Cyber Crime Probes  ||  Bombay HC: GST Return Details of Company Exempt from Disclosure under RTI Act    

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 :        

Disclaimer | Copyright 2025 - All Rights Reserved