18/2022 I. A National Bank of Pakistan Ltd (Appellant) V/S M/s. Saudi Pak Ind.&Agri. Invest. Co. Pvt. Ltd. (Respondent)
Sindh High Court2024
Bench: Hon'ble Mr. Justice Arbab Ali Hakro(Author)
18/2022 I. A National Bank of Pakistan Ltd (Appellant) V/S M/s. Saudi Pak Ind.&Agri. Invest. Co. Pvt. Ltd. (Respondent) Sindh High Court
Bench: Hon'ble Mr. Justice Arbab Ali Hakro(Author) Order Date: 29-OCT-24
Section 128 of the Contract Act, 1872 provides that the liability of the surety is co-extensive with that of the principal debtor unless otherwise specified in the contract. In essence, the guarantor's responsibility is equal to that of the principal debtor. This means that if the principal debtor defaults or fails to repay their debt, the guarantor is equally liable to fulfil the obligations.
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