 நிகழ்ச்சியாக இருக்கும் நிகழ்ச்சியாக இருக்கும் நிகழ்ச்சியாக இருக்கும் நிகழ்ச்சியாக இருக்கும் நிகழ்ச்சியாக இருக்கும் நிகழ்ச்சியாக இருக்கும் நிகழ்ச்சியாக இருக்கும் நிகழ்ச்சியாக இருக்கும் நிகழ்ச்சியாக இருக்கும் நிகழ்ச்சியாக இருக்கும் நிகழ்ச்சியாக இருக்கும் நிக ஒரு வே Tenan as one of the person on the YouTube channel had yesterday shared, as well as on the LinkedIn, that there is a very subtle difference between a Gu Competition Royal and a Indemic, and a lot of people sometimes feel that rather they are interwoven. But is there any difference as such? This all will be explained to Mr. Esmuka, before we go and take things forward. of Madras, but he travels length and breadth of this country and he has a very special way of taking the subjects which he's dealing each and every day. It will be very simple, even a layman can understand and he's been guiding us in many ways and he's an elder brother for many of the judicial aspirants and recently we have got the final results of the judicial aspirants whom Mr Mukunth had coached and many of them had come out in flying colours. So, I congratulate Vikasti and I thank Mukunth sir for joining in and all the participants. Let us enrich and let us start the journey of law along with Mukunth sir. Thank you so much for welcoming Leakey Leakey Salight on Beyond Law CLC platform. Thank you all. ஓர்டி மிர்ச்சி மக்காந்த. Thank you. Thank you, Mr. Vidas for pleasing words and Mr. Saadilakshmi logo, Murti too. In fact, I personally thank both of you for arranging this type of seminars time and again. This helps not only the viewers to benefit but also the person who is coming predominantly on screen to benefit a lot because once we say, we learn, once we teach, we really understand. So, that is the way that I am now compelled to read to take some lectures like this so that in a way it takes us to some win-win situation where both the lecturer and the viewers get benefited. Anyway, today we are going to deal with two concepts. One is indemnity and another one is guarantee. It is a very, very small portion of contract law. It is much essential for us to understand how insurance operates, how promises are to be kept or to be honoured and in case of payment of money as how one comes in to bail out the other. These are all the concepts of guarantee. So, let us go one by one after the other. My discussion will be on these broad categories. That is one, what is indemnity and what is guarantee, these primary factors. So, what should be the difference between the two? There is a subtle difference and three, the components of indemnity, the components of guarantee. When compared to indemnity, guarantee is a much wider area. It contains the rights of the guarantor, the liabilities and how much, what is the level or the limits of the sureties, how can we proceed against the surety even without proceeding against the borrower. So, these are all the factors we shall see and of course, can there be more than one surety, that is two or more sureties and how a surety is discharged, that is determination, how he comes out of it. All these factors, let us deal one after the other. Now, what should be indemnity? What is indemnity? It is nothing but indemnified or that is to safeguard one person from a loss, that is all. This is indemnity, insurance contracts. You ship some articles from one place to another. There is possibility of where else in the high sea or accidents do happen. All these things, it is beyond the human control. Now, we have to draw some little distinction between this indemnity and insurance. I will say what is indemnity. Indemnity is nothing but a promise to safeguard another person from the loss, that is all. It is a promise to make good the loss. Okay, something has happened. Do not worry. I will indemnify you. I will compensate you. On the other hand, we can say it is nothing but a promise to pay money. I will pay you, do not worry. See, something is damaged, do not worry. I have taken, I will use this product. If something happens, I will pay it to you. So, this is how the concept of indemnity operates. One, it is nothing but a compensation against the loss. It is a promise to make payment of money on account of the loss. In another sense, we can say it is nothing but a security that is giving. See, guarantee is also like that. Guarantee is also a security. Here, by entering into an indemnity contract, we are giving a security. That is, we are assuring payment. So, this is the concept of indemnity. The definition is very simple. It is nothing but a contract. See, the definition says it is a contract by which one party promises to save the other party. One party promises to save the other party from what? From loss. So, one party promises to save the other party from a loss caused by him. Because of some loss, he is stepping in to compensate it. That can be either by himself. The loss could have happened either by himself or through somebody, by agent or because of somebody, you are stepping into compensate. So, this is called indemnity. Now, what happens if we break down this definition, we get to know three, four points. One, it is a promise. Two, it is a contract of the party. Three, it is a saving the loss. These are all the three points. Now, whether this concept of indemnity will include or does not include an act of non-human agency, that is the most important one. If any act, because of, without any human intervention, then the concept of indemnity will not arise. To say in more simple terms, in case of insurance contracts, in case of insurance contracts, we create a contract for fire accident or accidents happening in the sea. These type of contracts, some tempest, because of some tempest, there is a loss. In those cases, the contract of insurance will govern having the foundation of indemnity. But they differ. This is not indemnity. No doubt, the insurance company is indemnifying the loss, not caused by human agency, but caused by some other factor beyond human intervention, that is contract of insurance. Here, if any loss caused because of human agency, because of our own act or through somebody, then we call, we bring it within the bracket of indemnity and not insurance. So, one difference is if there is loss caused by human intervention, it is indemnity, compensated that loss, promised to compensated that loss. But secondly, not caused by human intervention, then it is insurance contract that is a separate subject. So, this is the foundation. Now, what is the right of the indemnity holder? Yes, he suffered some damage. Now, what does this right? It is simple. See, we are dealing with only two sections in the category of indemnity. One, what is indemnity? Two, the right of the indemnity holder, that is all simple, 124 and 125. The rights, I have a bond. I am entitled to some monetary compensation. What are all the rights I am entitled? One, this section 125, that is the right of an indemnity holder is under three different heads. He has three rights. One, right to damages, right to damages. Two, right to cost, right to recover cost. And three, to compromise, to pay, to recover the amount paid under compromise. These are all the broad categories, three categories in which the indemnity holder gets the right to get some sort of money, one, he can file a suit for the loss suffered. Two, whatever incidental expenses that he had incurred, he can collect it, that is cost. And three, to recover the amount paid under compromise. That is, if there is an absence of a contract, he has stepped in. If the promissor has authorized compromise the suit that he is entitled to recover that money, whatever he has paid for the compromise made in the suit. So, these are all the three things. So, these two sections deals with indemnity. Now, what is guarantee? We are going into the second broader area called guarantee. Guarantee is given to save another person, correct? That's all. So, indemnity is a contract between two parties. See, if there is loss, I will compensate you. There is a direct contract between the parties. That is indemnity. But guarantee, somebody is coming. No, no, no. If there is loss, I am not confident that you will pay the money. I want somebody whom I can ask even if you don't pay, even if you don't pay. So, the third person comes in to help or to give a confidence to that person who has lent money to assure him that he will pay if the borrower does not pay. So, there are no three parties. In indemnity, there are only two parties. But in guarantee, there are three parties. So, what is contract of guarantee? Contract of guarantee is nothing but an assurance. I am assuring you. Assurance by one person to another on account of default of another. So, it is an assurance by one person to another on account of default of another. Because of him, you suffered loss, I will pay that money. In indemnity, you suffer loss. A person who has committed loss can be compensated. But in guarantee, somebody borrows, somebody gives, but somebody pays. So, three persons are in relation to each other in some type of contract. Now, what we have not understood? The person who gives guarantee is called a surety. That's all. So, if a person gives a surety, he is liable on account of the default of another. Now, guarantee is mostly entered into on money contracts. Of course, performance guarantee is also there. I will guarantee his performance. See, he is a person who is worth believing. Don't worry. He will perform this contract. If he does not perform, I will step in. So, that is called a performance guarantee. It is assuring somebody's contact. That is called a performance guarantee. But mostly, surface he adds or all money dealings, suits, they come under contract of money guarantee. It is nothing but a security given by a person for on account of default made by another person. So, what are all the essential things that we may have to understand in case of a contract of guarantee? One, the borrower himself gives an assurance. No, no. I will repay the money. Apart from that, there is a security from another person. That is nothing but an additional security. He asks for a security from the third person. No, no. You get the money. You pay or don't pay. That's different. But I want somebody to give you, somebody to step in in case of default. So, there is an additional security from a third person. The third person who is called a guarantor or a surety, he promises to the creditor. He promises to the creditor. Don't worry. You pay him. I will pay you in case of default. So, what happens in this? It creates a nature of an obligation. The guarantor or surety is obliged, is obligated to pay the lender. So, it creates an obligation. What obligation? It is like a contingent obligation. If the borrower does not pay, the surety steps in and pays. So, it is a contingent. It is like a contingent, but not contingent on his default. See, he has money, but he does not pay. What is the situation? He has money. The borrower has money, but he does not pay. Can you call a contingent? No. But what? Default. He defaults. So, it is like a contingent. If he does not pay, you have to step in, but it's actually not a contingent contract. But it creates an obligation. Even if he has money and don't pay, then you are bound to pay. So, even if the borrower or the principal debtor fails, then he must have to, the guarantor must have to step in. So, what are all the things that one must have to understand and guarantee is what it is a sort of additional security given by a third pertinent to the creditor. That is a promise made by the surety to the creditor. This type of promise creates an obligation to pay the money in case of default by the principal debtor. Even if the principal debtor does not pay or even if the principal debtor has money and does not pay, the guarantor must have to step in and pay the money. So, this is guarantee. Now, what if a guarantor can guarantee be over? Yes, guarantee can be over. Contract is a contract. Simple. It is a contract. It comes under the contract act. Every contract can be written or overal. If it is written, then obligations and rights of the parties, obligations, rights and duties of the parties, responsibilities of the parties are written down in a paper and both of them subscribe to the their signature in the paper. But in case of oral, we go by conscience. We go by conscience. In case of conscience, if really he is conscious, he has a good conduct, he will valid it and say, yes, I have given guarantee activity. But in today's commercial world, we cannot believe on the oral statement given by a party. Therefore, every transaction, the creditor insists on a written contract between the parties. So, what will happen if there is a written contract? As a lawyer, one must have to know that the written contract satisfies the condition of section 10 of the contract act. Of course, my inner cannot enter into a contract. Okay, I will ask one thing. Can there be a guarantee without a debt? Can there be a guarantee without a debt? If there is no debt, no guarantee. That's all. If only if there is a debt, then an obligation for the party arises to repay the money. Only if he has an obligation, that is, if the principal debtor has an obligation and if he fails in that obligation, the guarantor steps in and pays. So, when there is no debt, there is no guarantee at all. Now, every contract must have consideration. But in guaranty, what is the consideration? The consideration is promise itself. It is a promise made to step into the shoes of the principal debtor and pay the money for the borrow well made by the principal debtor. So, the promise is consideration because section 25 of the contract act says, any contract without consideration becomes void. But here, the promise is consideration. So, it is a valid contract. Now, we should briefly touch upon what is the difference between an indemnity and a guaranty? One thing, indemnity, there are only two parties. In guaranty, there are three parties. In indemnity, there will be one contract. In indemnity, there will be only one contract. In guaranty, there are three contracts. For all the three contracts, debtor and creditor will contract. Creditor, who pays the money, enters into a contract with the surety, is another contract. But there is one implied contract. The surety, the guarantor, he is going to step into the shoes of the principal debtor. There is an implied contract between the guarantor and the surety and the guarantor and the debtor. Naturally, or in normal circumstances, they don't enter into a separate contract. There are only two contracts. Practically, there are only two contracts. But there is a third contract, which is called an implied contract between the principal debtor and the surety. So, there are actually now three contracts. One factor that we may have to see. In indemnity, a loss is created. It is like a reimbursement. I reimburse the loss. But here, a security is given. See, I give my property. If he does not pay, you take away this property. I give this bank guarantee. If he does not repay you upon receipt of the goods, you take my money. So, it is nothing but a security given. So, that is the nature. One is like a reimbursement for loss committed. And another one is giving, providing the security itself. Now, the liability of the indemnifier is direct. It is a direct liability. In indemnity, the person has to who makes the promise to compensate the loss, must have to directly pay. But in case of guarantee, the liability is only coextensive. It is called coextensive liability, section 1.6. Coextensive liability. That is, as long as the principal debtor is liable, the guarantor is liable. It coextensive. It overlaps with the liability of the principal debtor. It is collateral. It travels parallelly with that of the principal debtor. If the principal debtor does not pay, the guarantor has to step into the shoe and then pay. So, it is called even if that is what I am saying, even if the principal debtor purposefully fails to pay, the guarantor must have to. Now, that is why they call it the liability is coextensive of the principal debtor. The guarantor is called a favoured debtor. The concept is that it is called a guarantor is called a favoured debtor, a favoured person. Even if he goes, I will take that is nothing like a bail, giving a bail bond, surety in courts also. Concerned accused if he vanishes, the surety who the court can get hold of the surety to produce his appearance. Now, let us deal with small, small things and get into the minor details of the ingredients in the for guarantor. One, there can be a limit fixed for guarantor. One thing that can be a sublimit. See, I am liable to guarantee that person only to an extent of 5 lakhs, 50 lakhs like that. So, over and above that 5 lakhs or 50 lakhs, the creditor cannot ask the guarantor because he is guaranteeing only to that extent. He knows how much the debtor will be able to pay. Correct. So, there can be a limit to the guarantee given. Now, another one concept. Can there be more than one guarantors? Yes. There can be any number of guarantors. Those guarantors, more than one are called co-guarantors or co-shurities. There is one section by name, section 144. 144 says, if there is a condition that only if Mr. X joins me as guarantor, only then the guarantee will be valid. Suppose, if the bank pays Mr. Y some money without bringing the tax as a co-guarantor, then this guarantee itself goes. My guarantee goes because the condition is there should be a joint guarantee. That is section 144, where a person gives guarantee upon a contract that the creditor shall not act until another person has joined you. So, it creates a factor that only if another person comes, I will act as guarantee. If that is the condition, by mistake if the creditor pays that money, then he cannot enforce the guarantee. So, now people will be knowing about void guarantees and voidable guarantees. All these things are touching upon the terms of the contract act. It is like a void contract and voidable contract. Now, one another guarantee, whether what we have to see is continuing guarantee, continuing guarantee, section 129, section 129, continuing guarantee. What is continuing guarantee? Guarantee which extends to series of transactions. It is not limited to one transaction. It is extended to series of transactions that is several transactions that is called continuing guarantee. If the lender enters into a contract with the guarantor saying, see for this borrower I am going for most of his transactions. For each and every transaction, I need not go and get a signature from you. In that case, there can be a clause mentioning that for all the series of transactions with the borrower, the guarantor will become liable. That is called continuing guarantee. So, the surety that is the guarantor will be liable in every circumstances during the continuity of surety ship. So, when the surety ship is alive, then the guaranty operates for every transaction. Again, that is why the surety is called a favored debtor. He is so good for all payments that I make to Mr. A. This surety is continuing to extend his arms, extend his help to bail him out in case of his default. So, he is called a favored surety. Now, there is one thing called proportionate of shares between the sureties. See, we spoke about four sureties or joint sureties under 144. There are cases where x, y, z, three sureties can join together and give a guarantee. That is right, but they can give equal guarantee. That is, suppose if 90,000 is the default, then each of them can pay 30,000 and give it. But they can always have a cap. X may say, no, no, I will be able to pay maximum 20,000 rupees. Y will say, I will be able to give maximum 30,000 rupees. And C may say, another amount. There is a variation in their level of sureties. In that case, each one will be bound to their maximum limit, that's all. Not more than that. If suppose 60,000, if suppose 20, 50, 90,000 is the default. If the default is 90,000, then the first man will maximum pay 20,000. The second man will maximum pay 30,000. The fourth man will maximum pay 40,000. So 90,000 will be clear. So that is also, we cannot ask the first surety to pay equally 30,000 because he has only given guarantee for 20,000. That is called the proportionate share of sureties. Now, one another concept section 138 we may have to. If whether release of one surety, will it release everyone? Whether release of one surety, will it release everyone? No. The release of one surety does not discharge other sureties. If one surety alone is released, that is one guarantor alone is released, the other guarantors are bound to the extent of the guarantee that they have given. That is dealt with in section 138. It does not release the guarantee given by the other to the creditors. And it does not release other sureties also. So the release or a discharge should be specific. Now, if there is no mention in the contract, fixing the limit of the surety, fixing the limit of the surety, that is 30,000, 20,000, 30,000 and 40,000. In that case, section 146 operates. Section 146 says, oh sureties, that is joint sureties, joint guarantors are equally liable. They are equally liable. What is that word called? They have to contribute equally. What do we say? Contribute equally means joint and several liability. Each of them shall be jointly and severely liable to pay that money. That can be a liability in the same contract or different contract with the creditor. It can be the same contract or in a different contract with the creditor. That contract may be with or without the knowledge of the principal debtor. See, it is an independent guarantee. It is an independent contract with the creditor and the guarantor. So the principal debtor need not know as to how much guarantee this person has offered. So these sureties must have to arrange amongst themselves as to how much they will pay to the creditor. So that is the thing. Now it can be in simple terms. It can be in either an equal proportion or in specific proportion, either by percentage basis or other ways. That is all. We have seen what is indemnity, what is guarantee and the types of guarantee that is continuing guarantee, simple guarantee and certain conditions. That is as to how each of them know we have to see about how, whether the guarantor have the right to rule. He feels though something is wrong. Whether he can revoke. Yes, that is called revocation of guarantee. Because he has given some continuing guarantee. It will go on for every transaction. In that case, the guarantor has every right to revoke that guarantee or it is enough is enough. I should not be bound for all his defaults. I am worn out. I don't want to meet out the loss. So for whatever guarantee that I have given, I am still bound by it. With this you close this. For all these loss, all these defaults till this date, I am liable. So that is he can revoke his guarantee. That is called, that is under section 130 of the contract act. So a continuing guarantee can be revoked at any time. It can be revoked at any time by the surety for what? Surety for future transactions. Not for the previous transactions. For all future transactions, he can revoke the guarantee. By what? By what mode? It is to be given by notice. So revocation of guarantee is always by notice for all future guarantees. So that is that way he can do. And there is one another way of revocation. In fact, revocation may be of three types. One by notice sir, I want to revoke my guarantee for all future transactions. That is section 132 by dith. If the guarantor himself dies, then there is no possibility of continuing his guarantee by dith. Any future transactions, all future borrowers by the debtor, future transactions, series of future transactions by the debtor, gets terminated on account of the death of the guarantor. Unless it is specifically mentioned that the hairs are liable. Nobody will do such type of contract. Again, the hairs will say no, no, only to the extent of the inheritance by my father. I am liable or not personally. So that is one thing. The third thing is if there are certain circumstances, which are very clear that the guarantor has revoked his guarantee. So under certain circumstances. Now we shall finally touch upon the last segment. How the guarantee terminates? That is discharge of a shoe. How your guarantor is discharged? How can he come out? There are different circumstances with different ways in which he can get away from the guarantee that is called discharge of shoe's liability. 10 sections, 130 to 139. We have seen during the course itself, but anyway, we will touch upon just one after the other. One, he can revoke himself from the liability. That is what we said. We discussed just now, section 130 by notice. I want to revoke. Two by death, 131 by death. By death, it puts the termination to that. Then by novation, novation of contract, section 62 of the contract act. If we change the terms of the contract, then also his guarantee gets revoked. He gets back his obligation to pay the money as per the terms now put in the contract. That is novation. Then if there is a variance in terms of contract, then also it is just like novation. There is a variance in terms of contract, then also the guarantee gets extinguished. One more thing, section 134. What it says is, if the lender, if the creditor discharges the principal debtor, if he discharges the principal debtor, even if there is some dues, then it automatically discharges the guarantor. So, because, see, that is what we discussed in the prior portion of this lecture. One, guarantee surveys only equal to the extent of the debt. If the principal debtor is discharged, if the creditor says, okay, you don't need to pay anything, then automatically the guarantee extinguishes. And another circumstances, if the creditor makes some type of compromises or compounds the transaction personally without the knowledge of the principal debtor, then also guarantee terminates. See, the creditor must have to protect the guarantor also because he has stepped into pay the money. So, the creditor cannot make any type of secret arrangement, either by discharging the principal debtor or compromising with him that you pay this much amount, I will discharge you for viability, then automatically the guarantee goes. Another factor, if the creditor prevents the remedy of the guarantor, then also the guarantee terminates. So, the creditor cannot act against the interest of the guarantor. If he disturbs his remedies of the guarantor, then the guarantee goes. If there is invalidation of the contract, if the contract itself is void, then also guarantee goes. So, these are all the several circumstances in which the guarantee gets terminated. The broad category in which that we have discussed is one more factor that I want you to mention is the right of the guarantor. Now, we have seen what is indemnity, what is guarantee, the rights of indemnity holder. We will just go one after the other and with a blink of the eye, we will finish it off. I will just recapitulate everything. We saw about the surety's liability, core surety's continuing guarantees. Now, we are in the last segment as to the what is the right of the surety. What right he gets? He has three different type of rights. One is right against the creditor, right against the creditor. This is one right, section 141. Right against the debtor, right against the debtor because debt, he pays for the debtor, so debtor has to compensate. Right against a surety's, core surety's. These are all the three types of rights that we are going to discuss and then complete the lecture. One, right against the creditor. Right against the creditor means, the surety has the benefit of creditors' security. See, I have given the security, the creditor loses the security. Or without the consent, then the surety is discharged. That is what we saw in the discharge of surety. This is one right he has. That is creditor cannot make underhanded dealings with the principal debtor. That is the right he has against the creditor. This is one thing. Secondly, the right against the debtor. See what happens with the debtor does not pay, the guarantor pays the creditor. The guarantor pays the creditor. In that case, he has the right to sue the principal debtor and get the money. That is either by way of a right of subrogation or by way of right of indemnity. He is no put to loss because of the non-payment of the debtor, the guarantor is put to loss. So therefore, the guarantor, even though there is no written contract between the guarantor and the principal debtor, that is what we saw. There are three types of contracts involved in the contract of guarantee. The principal debtor and the creditor, the creditor and the guarantor. There is no independent contract or a written contract with the guarantor and the principal debtor. But that contract is an implied contract. So the guarantor pays first to the creditor and he can sue the principal debtor and get the money. Thirdly, he has the right to file a case against the court authorities. See, in the instance, we saw one example, 20,000, 30,000 and 40,000. This guarantor, he pays 90,000 fully where other guarantors have to pay their respective contributions, that is 20,000 and 30,000. Now this guarantor can file a case against those court authorities who had not stepped immediately to pay the guarantor. That is, the right he has against the court authorities. If they have to pay equally, then they have to bear the laws equally, but they have not come up to pay. This person, to show his level of conduct, he stepped in and paid. Then he can recover against those court authorities who had not stepped in at that point of time. So these are all the three categories in which the right of the court authorities operates. Now we shall just recapitulate quickly and wind up the session. One, there are two things that we have discussed today. One is indemnity and another one is guarantee. Indemnity is nothing but a promise to make would be loss. Promise is nothing but a compensation, compensation to pay money, that is indemnity. So this is a contract to save other person from the loss. The loss can be either by ourselves or by the same person or through somebody. That is to compensate the loss made by somebody. But one thing, in contract of indemnity, there should be an element of loss created by human agency and not otherwise. If it is not created by human agency, then contract of insurance will take care of. So that is why fire insurance, this earthquake, all these things come into, do humans cause earthquakes? No. So these type of losses will be covered by contract of insurance and not by contract of indemnity. And right of an indemnity is under three categories. One is he can collect damages, that is for the loss suffered, he can collect a cost and thirdly for any compromise that he has made, then he can cover up that loss. These are all the right of indemnity holder, that is dealt with under section 125. Definition 124, the right is under 125. This is with respect to that, we can find out contract of indemnity. Now we go into contract of guarantee. Guarantee in guarantee, we saw many things, that is, is a tri-partiate contract. Some other person, he steps into the shoes of the actual borrower and gives some type of confidence to the creditor saying that don't worry, you pay him the money. If he does not pay, I will step in and give the money back to you. So that is called. Now it is an additional security given by the person to the creditor. He is called, this person who gives an additional security or gives him a confidence is called a surety. So this surety creates an obligation to the party if the other party fails to pay back the money. Now, of course, the differences that we saw between indemnity and guarantee and the guarantee, we can fix a limit as to how much can be the guarantee. And the one more point that we may have to recapitulate is, the liability of the guarantor is co-extensive with the liability of the principal borrower. That is, it runs parallel. If the guarantor is discharged, the borrower is discharged, guarantor is discharged. Until the borrower is not discharged, then the guarantor is still liable. It is called co-extensive liability. Then of course, in contract of guarantee, the general contract will operate. Section 10 of the contract will operate. If it is a void contract, then the guarantor also is discharged from the liability. Then we saw about continuing guarantee, section 129. This continuing guarantee operates for all series of transactions. One after the other, without there being an independent contract every time. Of course, this continuing guarantee can be stopped. That is that we dealt with in a revocation of guarantee. He can, by giving a notice, he can stop that saying, I don't want to give you continuing guarantee. I will stop it. It will not bind me for our future transactions. Then we saw by death, by death this continuing guarantee gets discharged. Now we independently saw certain types of guarantees which gets discharged. One by revocation, two by death, by notice, by variation in terms of contract that discharges the guarantee. And on account of secret arrangement between the creditor and the principal debtor, that discharges the guarantor. He cannot impair the value of the security. The creditor cannot impair the security. He cannot impair the guarantor's remedy. In that case also, the guarantee extinguishes. And by invalidating the contract also, the guarantee extinguishes. Later part, we saw the rights of the sureties. Rights of the sureties, we saw in three different categories. One, the right against the creditor. He can ask the creditor to give his security. Two, right against the principal debtor. He can sue the principal debtor and collect the money. And three, right against the co-sureties. He can pay first and collect it from others. So, these are all the things that we saw. And with this, we shall complete the session. Mr. Vekas. Yeah, there's only one question. This is by Satish Kumar. Concentration has to be received, but promise is given. Is it still a consideration? Yes, promise is consideration here. It is a valid contract. Promise is consideration. It is not barred under a section 25 of the contract. This is by Saiyan Ghosh on the YouTube. Can there be a claim for indemnity for penalties levied by a third party which have not been actually levied as on the date of the indemnity notice? You have to see the circumstances. See, that is why if there is indemnity, then the law should be by the person himself or the another because of him. Only then that is indemnity. We must have to know who has caused the indemnity, who has caused the loss. In that case, we require some analysis in that question. So, I may not be able to directly answer. So, thank you on behalf of Adilakshmi, Legal Eagler Lights and Beyond Law CLC. நன்றாக இருக்கிறேன்.