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Daily Archives: February 19, 2022

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Right of subrogation: Right of Guarantor against principal borrower on whose behalf loan is repaid 

Loans and advancesBy Surendra NaikFebruary 19, 2022Leave a comment

The right of subrogation is an equitable and natural right of the guarantor against the principal borrower on whose behalf he has paid the money. Section 128 of the Indian Contract Act 1872 provides that the liability of the guarantor is co-extensive with the principal debtor. It means the guarantor of a loan is liable…

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