CHAPTER VIII
OF INDEMNITY AND GUARANTEE
- “Contract of indemnity” defined.
- Rights of indemnity-holder when sued.
- “Contract of guarantee”, “surety”, “principal debtor” and “creditor”.
- Consideration for guarantee.
- Surety’s liability.
- “Continuing guarantee”.
- Revocation of continuing guarantee.
- Revocation of continuing guarantee by surety’s death.
- Liability of two persons, primarily liable, not affected by arrangement between them that one shall be surety on other’s default.
- Discharge of surety by variance in terms of contract.
- Discharge of surety by release or discharge of principal debtor.
- Discharge of surety when creditor compounds with, gives time to, or agrees not to sue, principal debtor.
- Surety not discharged when agreement made with third person to give time to principal debtor.
- Creditor’s forbearance to sue does not discharge surety.
- Release of one co-surety does not discharge others.
- Discharge of surety of creditor’s act or omission impairing surety’s eventual remedy.
- Rights of surety on payment or performance.
- Surety’s right to benefit of creditor’s securities.
- Guarantee obtained by misrepresentation invalid.
- Guarantee obtained by concealment invalid.
- Guarantee on contract that creditor shall not act on it until co-surety joins.
- Implied promise to indemnify surety.
- Co-sureties liable to contribute equally.
- Liability of co-sureties bound in different sums