140: Rights of surety on payment or performance
The Contract Act · Federal Acts · Chapter VIII · in_force
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Where a guaranteed debt has become due, or default of the principal debtor to perform a guaranteed duty has taken place, the surety, upon payment or performance of all that he is liable for, is invested with all the rights which the creditor had against the principal debtor.
Related sections
139: Discharge of surety by creditor’s act or omission impairing surety’s eventual remedy141: Surety’s right to benefit of creditor’s securities138: Release of one co-surety does not discharge others142: Guarantee obtained by misrepresentation invalid137: Creditor’s forbearance to sue does not discharge surety143: Guarantee obtained by concealment invalid
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