As per section 38 when constitution of the firm is changed, the contin – McqOptions

MCQOPTIONS

1.	As per section 38 when constitution of the firm is changed, the continuing guarantee given to the firm or to a third party in respect to the transactions of the firm:
A.	Is not affected at all
B.	Is revoked as to future transactions
C.	Is revoked with retrospective effect
D.	Ceases to be continuing guarantee
Answer» B. Is revoked as to future transactions

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