Indian Contract Act, 1872
Section - 133 - Discharge of surety by variance in terms of contract
Discharge of surety by variance in terms of contract
133. Any variance, made without the surety's consent, in the terms of the contract between the principal [debtor] and the creditor, discharges the surety as to transactions subsequent to the variance.
Illustrations
| (a) | - | A becomes surety to C for B's conduct as manager in C's bank. Afterwards, B and C contract, without A' s consent, that B' s salary shall be raised, and that he shall become liable for one-fourth of the losses on overdrafts. B allows a customer to over-draw, and the bank loses a sum of money. A is discharged from his suretyship by the variance made without his consent, and is not liable to make good this loss. |
| (b) | - | A guarantees C against the misconduct of B in an office to which B is appointed by C, and of which the duties are defined by an Act of the Legislature. By a subsequent Act, the nature of the office is materially altered. Afterwards, B misconducts himself. A is discharged by the change from future liability under his guarantee, though the misconduct of B is in respect of a duty not affected by the later Act. |
| (c) | - | .... To read the full section download the app from Google Play store
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