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Supreme Court of India
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Civil Law
Bare Acts
Indian Contract Act, 1872
Section 75-146
Section 76-123
Section 76-123
Section 126- "Contract of guarantee", "surety", principal debtor" and "creditor"

A "contract of guarantee" is a contract to perform the promise, or discharge the liability, of a third person in case of his default. The person who gives the guarantee is called the "surety"; the person in respect of whose default the guarantee is given is called the "principal debtor ", and the person to whom the guarantee is given is called the "creditor". A guarantee may be either oral or written.

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