Contract Contract Act, S. 171 – Lien –  Unless a person is a party to a loan transaction in whichever capacity, the question of the Bank’s exercising the general lien vis-Ă -vis the property of that person—even if he or she were the spouse of the contracting party does not arise 2.1k
Banking Deed of guarantee – Oral – Although, there is no performa is prescribed for deed of guarantee and even guarantee can be oral as per Section 126 of the Contract Act, but once it is reduced into writing either in the form of letter or contract then it must fulfil all the ingredients of contract of guarantee and should be signed by surety, principal debtor and creditor as well 2.1k