ICA Section 142: Guarantee obtaiend by misrepresentation, invalid

Indian Contract Act, 1872 · Chapter 8: Indemnity and Guarantee

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142. Guarantee obtained by misrepresentation invalid.- Any guarantee which has been obtained by means of misrepresentation made by the creditor, or with his knowledge and assent, concerning a material part of the transaction, is invalid.

Official reference: India Code, Legislative Department — checked: 29 September 2026.

This text is for reference, not legal advice. Consult the official source for the authoritative text.

Other sections in this chapter

124. "Contract of indemnity" defined
125. Rights of indemnity-holder when sued
126. "Contract of guarantee", "surety", principal debtor" and "Creditor"
127. Consideration for guarantee
128. Surety's liability
129. "Continuing guarantee"
130. Revocation of continuing guarantee
131. Revocation of continuing guarantee by surety's death
132. Liability of two persons, primarily liable, not affected by arrangement between them that one shall be surety in other's default
133. Discharge of surety by variance in terms of contract
134. Discharge of surety by release of discharge of principal debtor
135. Discharge of surety shen cerditor compounds with, gives time to, or agrees not to sue principal debtor
136. Surety not discharged when agreement made with third person to give time to principal debtor
137. Creditor's forbearance to sue does not discharge surety
138. Release of one co-surety does not discharge others
139. Discharge of surety by creditor's act or omission impairing surety's eventual remedy
140. Rights of surety on payment or performance
141. Surety's right to benefit of creditor's securities
143. Guarantee obtained by concealment, invalid
144. Guarantee on contract that creditor shall not act on it until co-sureties joins
145. Implied promise to indemnify surety
146. Co-sureties liable to contribute equally
147. Liability of co-sureties bound in different sums