18 Guam Code Ann. § 32205
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In 18 Guam Code Ann. § 32205
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
A surety is exonerated —
1. In like manner with a guarantor;
2. To the extent to which he is prejudiced by any act of the creditor which would naturally prove injurious to the remedies of the surety or inconsistent with his rights, or which lessens his security; or,
3. To the extent to which he is prejudiced by an omission of the creditor to do anything when required by the surety, which it is his duty to do.
SOURCE: CC § 2840.
NOTE: No 1970 Civil Code Ԥ 2841-2843 existed.
COL120106
18 Guam Code Ann. BUSINESS STRUCTURE & FUNCTION
CH. 32 SURETYSHIP
———-
ARTICLE 3
RIGHTS OF SURETIES