eSignature Guarantee Reviews

How to eSign a document: Sign Guarantee Agreement

hello guys welcome to our channel LMC Peru in this video we will see rites of charity basically rites of charity can be seen under three hands rights against the creditor rights against the principal debtor and rights against Co sureties right against creditor includes right to securities that is given under Section 141 right against the principle data includes right of subrogation which is given in Section 140 and right of indemnity which is given under Section 145 and right against Co charities is also known as the right to contribution which is given under Section 146 and section 147 of Indian contract Act so these are the main rights available to a charity and I would recommend that before watching this video please watch our earlier videos on contract of indemnity and guarantee so that you can easily understand this video you will get the link in description so let's start by sink right against creditor that is given in Section 141 which is known as right to securities according to Section 141 as surety is entitled to the benefit of every security which the creditor had against the principal debtor at the time when the contract of surety ship is entered into knowledge of surety about security is not relevant for availability of this right let's understand section 141 with the help of an example a goes to B and asked for a loan of $2000 for which C is the surety but B says only guarantee is not enough what will I do if it does not leap him he gives his gold as security and B gives the loan when a failed to pay the amount B recovered the amount from see who's the security after C has paid the depth he can take the gold from B this is known as the right of securities now let's see the right against the principle data mainly there are two rights available against the principle that our first right is right of subrogation this is given under Section 114 when the depth has become due or when a default is made by the principal debtor and charity has paid the amount the charity will step into the shoes of the creditor that means charity will get all the rights which the creditor had against the principal debtor second right against the principal debtor is right to indemnity that is governed under Section 145 in every contract of guarantee there is an implied promise by the principal debtor to indemnify the charity according to Section 145 the charity is entitled to recover from the principal debtor whatever sum he has rightfully paid under the contract of guarantee to understand the meaning of contract of indemnity you can watch our video which you can see on the screen you can find the link of the video in the description also now let's see rights against Co sureties which is known as right to contribution this right can be...