Guarantee obtained by misrepresentation invalid.— Any guarantee which has been obtained by means of misrepresentation made by the creditor, or with his knowledge and assent, concerning a material part of the transaction, is invalid.
Guarantee obtained by concealment invalid.— Any guarantee which the creditor has obtained by means of keeping silence as to material circumstances, is invalid. Illustrations (a) A engages B as clerk to collect money for him.…
Guarantee on contract that creditor shall not act on it until co-surety joins.— Where a person gives a guarantee upon a contract that the creditor shall not act upon it until another person has joined…
Implied promise to indemnify surety.— In every contract of guarantee there is an implied promise by the principal debtor to indemnify the surety, and the surety is entitled to recover from the principal debtor whatever…
Co-sureties liable to contribute equally.— Where two or more persons are co-sureties for the same debt or duty, either jointly or severally, and whether under the same or different contracts, and whether with or without…
Liability of co-sureties bound in different sums.— Co-sureties who are bound in different sums are liable to pay equally as far as the limits of their respective obligations permit. Illustrations (a) A, B and C,…
“Bailment” “bailor” and “bailee” defined.— A “bailment” is the delivery of goods by one person to another for some purpose, upon a contract that they shall, when the purpose is accomplished, be returned or otherwise…
Delivery to bailee how made.— The delivery to the bailee may be made by doing anything which has the effect of putting the goods in the possession of the intended bailee or of any person…
Bailor’s duty to disclose faults in goods bailed.— The bailor is bound to disclose to the bailee faults in the goods bailed, of which the bailor is aware, and which materially interfere with the use…