Surety not bound beyond contract
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 39 U.S. 201 - Samuel Sprigg v. The Bank of Mount Pleasant · 1840Most cited · 31 citing opinions
It is no doubt a sound and well-settled principle, that sureties are not to be made responsible beyond their contract; and any agreement with the creditor, which varies essentially the terms of the contract, without the assent of the surety, will discharge him from his responsibility. But this principle cannot apply where the surety has, by his own act, exchanged his character of surety for that of principal.