Q242
The revocation of continuing guarantee on the change of constitution of the firm under section 38 of the Act, is in respect of
A.
Future transactions from the date of change in the constitution of the firm
AnswerB.
Transactions already made as the revocation shall relate back to the date of guarantee
C.
Transactions already made as well as future transactions
D.
Neither (A) nor (B) but only (C)
Answer: Option A
Solution
Answer: Option A
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