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 who has been exonerated by such agreement.
Cal. Civ. Code § 2821
Exoneration of Sureties
Applied in 1 court decision — leading case American Insurance v. Heritage Construction Corp. (1965)
Most recently applied in American Insurance v. Heritage Construction Corp. (December 1965)
Amended by Stats. 1939, Ch. 453.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.