Guarantor
A Law Dictionary, Adapted to the Constitution and Laws of the United States · John Bouvier · 1839
A Law Dictionary, Adapted to the Constitution and Laws of the United States
contracts.
He who makes a guaranty
The guarantor is bound to fulfil the engagement he has entered into, provided ‘debtor is, and, any payment made by the latter, or release of him by the creditor, will operate as a release of the guarantor, 3 Penna. R. 19; or even if the guarantee should give time to the debtor beyond that contained in the agreement, or substitute a new agreement, or do any other act by which the guarantor’s situation would be worse, the obligation of the latter would be discharged.
Smith on Mer. Law, 285.