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Saturday, January 24, 2009

Ques-3

3) C, the holder of an over due bill of exchange drawn by A as surety for B, and accepted by B,contract with X to give time to B, Is A discharged from his liability?
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 surely is not discharged. Accordingly, A is not discharged from his liability.

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