J C GALSTAUN Vs. EDSASSOON AND CO LTD

JUDGEMENT

(1.) This is an appeal from a judgment on admission pronounced by Mr. Justice Greaves under Order 12, Rule 6 of the Civil P. C., 1908.

(2.) The suit was instituted on the 7 May 1921 by E.D. Sassoon & Co. against Ebrahim Soleman Saleji & Co. and J.C. Galstaun for recovery of money. The claim, so far as Galstaun was concerned, was based on the following letter of guarantee written by him to the Plaintiffs on the 6 January 1921: In consideration of your advancing to Ebrahim Soleman Saleji & Co. of No. 1, Amratolla Lane in Calcutta at my request the sum of Rs. 5,00,000 as a loan bearing interest at nine percent, per annum I, the undersigned John Carapiet Galstaun, hereby agree with you as follows: 1. To make good any default on the part of the said Ebrahim Soleman Saleji & Co. or their successors in interest, in the payment of the said loan and all interest due thereon. 2. You are to be at liberty without discharging me from liability here-under to grant time or other indulgence to the said Ebrahim Soleman Saleji & Co. and to treat them in all respects as though I was jointly liable with them as a debtor to you instead of being a surety for them and in order to give full effect to the provisions of this guarantee I hereby waive all surety ship and other rights inconsistent with such provisions which I otherwise might be entitled to claim and enforce.

(3.) This guarantee shall not be revocable by notice or by reason of my death, but it shall remain in full force until the said sum of Rs. 5,00,000 with interest is repaid to you or until such time as the proposed mortgage for Rs. 10,00,000 secured on certain properties of the said Ebrahim Soleman Saleji & Co. shall be completed.