Section 44 of ICA : Section 44: Effect Of Release Of One Joint Promisor

ICA

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Explanation using Example

Imagine Rita, Sam, and Alex take a joint loan from a bank and promise to repay it together. If the bank decides to forgive Sam's part of the debt, according to Section 44 of The Indian Contract Act, 1872, Rita and Alex are still responsible for repaying the entire loan. Moreover, Sam isn't off the hook completely; he might still have to settle his share with Rita and Alex, who remain liable for the debt.

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Explanation using Example

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