TITLE 13. SURETYSHIP [2787. - 2856.]
Heading of Title 13 amended by Stats. 1939, Ch. 453.
§§ 2787–2856 · 38 sections
ARTICLE 1. Definition of Suretyship §§ 2787–2788 · 2 sections
ARTICLE 2. Creation of Suretyship §§ 2792–2795 · 4 sections
- § 2792 Where a suretyship obligation is entered into at the same time with the original obligation, or with the acceptance of the latter by the creditor, and forms…
- § 2793 Except as prescribed by the next section, a suretyship obligation must be in writing, and signed by the surety; but the writing need not express a…
- § 2794 A promise to answer for the obligation of another, in any of the following cases, is deemed an original obligation of the promisor, and need not be in writing:…
- § 2795 Unless notice of acceptance is expressly required, an offer to become a surety may be accepted by acting upon it, or by acceptance upon other consideration. An…
ARTICLE 3. Interpretation of Suretyship §§ 2799–2802 · 4 sections
- § 2799 In an assumption of liability as surety in connection with a contract, the terms of which are not then settled, it is implied that its terms shall be such as…
- § 2800 A guaranty to the effect that an obligation is good, or is collectible, imports that the debtor is solvent, and that the demand is collectible by the usual…
- § 2801 A guaranty, such as is mentioned in the last section, is not discharged by an omission to take proceedings upon the principal debt, or upon any collateral…
- § 2802 In the cases mentioned in Section 2800, the removal of the principal from the State, leaving no property therein from which the obligation might be satisfied,…
ARTICLE 4. Liability of Sureties §§ 2806–2811 · 6 sections
- § 2806 A suretyship obligation is to be deemed unconditional unless its terms import some condition precedent to the liability of the surety.
- § 2807 A surety who has assumed liability for payment or performance is liable to the creditor immediately upon the default of the principal, and without demand or…
- § 2808 Where one assumes liability as surety upon a conditional obligation, his liability is commensurate with that of the principal, and he is not entitled to notice…
- § 2809 The obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal; and if in its terms it exceeds…
- § 2810 A surety is liable, notwithstanding any mere personal disability of the principal, though the disability be such as to make the contract void against the…
- § 2811 Any party required to give a bond undertaking or other obligation may agree with his surety for the deposit of any money and assets for which the surety is…
ARTICLE 5. Continuing Guaranty §§ 2814–2815 · 2 sections
- § 2814 A guaranty relating to a future liability of the principal, under successive transactions, which either continue his liability or from time to time renew it…
- § 2815 A continuing guaranty may be revoked at any time by the guarantor, in respect to future transactions, unless there is a continuing consideration as to such…
ARTICLE 6. Exoneration of Sureties §§ 2819–2825 · 7 sections
- § 2819 A surety is exonerated, except so far as he or she may be indemnified by the principal, if by any act of the creditor, without the consent of the surety the…
- § 2820 That a promise by a creditor is for any cause void, or voidable by him at his option, shall not prevent it from altering the obligation or suspending or…
- § 2821 The rescission of an agreement altering the original obligation of a debtor, or impairing the remedy of a creditor, does not restore the liability of a surety…
- § 2822 (a) The acceptance, by a creditor, of anything in partial satisfaction of an obligation, reduces the obligation of a surety thereof, in the same measure as…
- § 2823 Mere delay on the part of a creditor to proceed against the principal, or to enforce any other remedy, does not exonerate a surety.
- § 2824 A surety, who has been indemnified by the principal, is liable to the creditor to the extent of the indemnity, notwithstanding that the creditor, without the…
- § 2825 A surety is not exonerated by the discharge of his principal by operation of law, without the intervention or omission of the creditor.
ARTICLE 7. Position of Sureties §§ 2832–2856 · 13 sections
- § 2832 One who appears to be a principal, whether by the terms of a written instrument or otherwise, may show that he is in fact a surety, except as against persons…
- § 2837 In interpreting the terms of a contract of suretyship, the same rules are to be observed as in the case of other contracts. Except as provided in section 2794,…
- § 2838 Notwithstanding the recovery of judgment by a creditor against a surety, the latter still occupies the relation of surety.
- § [2839.] Section Twenty-eight Hundred and Thirty-nine. Performance of the principal obligation, or an offer of such performance, duly made as provided in this Code,…
- § 2845 A surety may require the creditor, subject to Section 996.440 of the Code of Civil Procedure, to proceed against the principal, or to pursue any other remedy…
- § 2846 A surety may compel his principal to perform the obligation when due.
- § 2847 If a surety satisfies the principal obligation, or any part thereof, whether with or without legal proceedings, the principal is bound to reimburse what he has…
- § 2848 A surety, upon satisfying the obligation of the principal, is entitled to enforce every remedy which the creditor then has against the principal to the extent…
- § 2849 A surety is entitled to the benefit of every security for the performance of the principal obligation held by the creditor, or by a co-surety at the time of…
- § 2850 Whenever property of a surety is hypothecated with property of the principal, the surety is entitled to have the property of the principal first applied to the…
- § 2854 A creditor is entitled to the benefit of everything which a surety has received from the debtor by way of security for the performance of the obligation, and…
- § 2855 An arbitration award rendered against a principal alone shall not be, be deemed to be, or be utilized as, an award against his surety. The intent of this…
- § 2856 (a) Any guarantor or other surety, including a guarantor of a note or other obligation secured by real property or an estate for years, may waive any or all of…