Abstract: The study examines the nature and scope of bank guarantee system in India. The present study is concerned with the law relating to the bank guarantees particularly embodied in the Indian Contract Act 1872. The present paper also puts light on the economic functions and benefits of the bank guarantees. Besides that, this study also explains the various types of guarantees issued by the banks in India. This study is a doctoral study. For this research, relevant statutory material has been examined. The decisions on the Supreme Court regarding bank guarantees published in various journals, reporters, digests, manuals and reference books had been consulted. The object of this study is to make systematic evaluation of law and judicial approach relating to bank guarantee system in India.
Publication Year: 2016
Publication Date: 2016-10-18
Language: en
Type: article
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