Legal Question in Banking Law in India
A minor is admitted to beneift of partnership in a firm which has now availed a finance from a bank. Can the guardian of the minor execute a guarantee on behalf of the minor guaranteeing the said loan.
Asked on 11/06/10, 4:03 am
1 Answer from Attorneys
J. Radhakrishnan
independent Practice
The guardian cannot execute the guarantee on behalf of the minor.
Answered on 11/27/10, 9:03 pm
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