Landmark case · Law of Contract – II · Semester 2

Bank of Bihar Ltd. v. Damodar Prasad

AIR 1969 SC 297 · Supreme Court of India

The liability of a surety is co-extensive with that of the principal debtor; the creditor need not exhaust remedies against the principal before suing the surety.

From topic

Contract of indemnity and contract of guarantee — Unit I, Law of Contract – II.

Related sections:

Indian Contract Act, 1872, 124 — Contract of indemnity
Indian Contract Act, 1872, 125 — Rights of indemnity-holder when sued
Indian Contract Act, 1872, 126 — Contract of guarantee, surety, principal debtor and creditor
Indian Contract Act, 1872, 128–141 — Surety's liability, discharge and rights