Legal Question in Civil Litigation in
I am widow of one of co-guarantors for a car loan. What is my legal duties about that guarantee / non payment of the said loan?
Asked on 2/12/11, 2:29 am
2 Answers from Attorneys
Vishwa Arya
Arya & Co.
in my opinion, you do not have any duty as such. your liability would depend upon the contract of guarantee. normally, if as wife, you have inherited property of guarantor, then you will be liable or else not. However, there are other factors which require consideration. at this time, you do not owe any duty towards the borrower or towards the financer.
Answered on 2/12/11, 3:28 am
Professor SOMNATH MUKHERJEE
MUKHERJEE ASSOCIATES(Cell +91 9874753359/ 9477781578)
in my openion normally you have no duty but the creditor fails to pay the loan then you duty start and you have to pay the same.
Answered on 2/12/11, 8:38 am
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