Ahmed and Saad had an agreement to enter a business venture in which they shall be partners 50% each. Saad is short of finances so he opts for a loan of commercial nature from the bank. The bank researches financial security status of Saad and suggests that he needs to put down a guarantor for the loan security. the risk factor of the business deal is 45% which is rated quiet high. Ahmed and Saad decide not to disclose the risk percentage to both the bank and guarantor and to do so they change the facts of the financial statements. Guarantor agrees to sign the documents and bank accepts it. State if the contract between the bank and the other parties is valid? In case of a default how much is the guarantor liable to cover the losses