Suretyship

The contract of suretyship is that whereby one obligates himself to pay the debt of another in consideration of credit or indulgenco or other benefit given to his principal, the principal remaining bound therefor. It differs from a guaranty in this: that the consideration of the latter is a bsnefit flowing to the guarantor.

Code Ga. 1882, § 2148.

See Surety. Suretyship is an accessery promise by which a persen bindfe himself for another already bound, and agrees with the creditor to satisfy the obligation, if the debtor does not. Civ. Code La. art.

3035.

A contract of suretyship is a contract whereby one person engages to be answerable for the debt, default, or miscarriage of another.

Pitm. Princ. & Sur. 1, 2.

For the distinctions between, "suretyship" and "guaranty," see Guaranty, n.