Coextensive Liability

India– Where a guarantee is undertaken, liability of the guarantor and principal debtors is coextensive and not in alternative, and the creditor can choose to move against either or both at its discretion.
Please see the following judgment on this topic: Industrial Investment Bank of India Ltd. v. Biswanath Jhunjhunwala, (Supreme Court of India, 2009)


Author: Vikrant Narayan Vasudeva
Photo by Edinburgh City of Print/ CC BY 2.0

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