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1The Contract Act, 1872

( ACT NO. IX OF 1872 )

[ 25th April, 1872 ]

Chapter VIII

OF INDEMNITY AND GUARANTEE

Surety not discharged when agreement made with third person to give time to principal debtor
136. Where a contract to give time to the principal debtor is made by the creditor with a third person, and not with the principal debtor, the surety is not discharged.
 
 
 
 
Illustration
 
 
 
 
C, the holder of an overdue bill of exchange drawn by A as surety for B, and accepted by B, contracts with M to give time to B. A is not discharged.
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    Throughout this Act, except otherwise provided, the words "Bangladesh", "Taka" and "Penal Code" were substituted, for the words "Pakistan" or "East Pakistan", "Rupees" or "Rs." and "Pakistan Penal Code" respectively by section 3 and 2nd Schedule of the Bangladesh Laws (Revision And Declaration) Act, 1973 (Act No. VIII of 1973).
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