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a contract of guarantee like every other contract ,must also statisfy all the essential elements of a valid contract. it should also be accompanied by

a contract of guarantee like every other contract ,must also statisfy all the essential elements of a valid contract. it should also be accompanied by a valid consideration although it need not be a direct consideration. discuss the essentials of a contract of guarantee along with the extent of surety's liability. also explain how a continuing guarantee may be revoked.

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