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hello guys welcome to Ellen in this video we will learn about contact of guarantee this topic is given in Indian contract Act I am Ruth nish Perry so lets start by seeing things that we will cover in this video in this video we will study meaning of contact of guarantee we will see number of parties in contract of guarantee we will understand the topic with the help of some examples we will see how many contacts are involved in contact of guarantee we will see essentials of a contact of guarantee and the conditions when a contact of guarantee is revoked so lets start there are three people a B and C a goes to B and says I want to borrow one lakh rupees B says I dont trust you so I will not give you money here C who is a reputed businessman says that I will pay if it does not pay and B lends money to a on Cs assurance this is a contract of guarantee and in this contract a will be considered principal debtor B will be the creditor and she is charity section 126 of Indian contr