The Students Guide to Stephens New Commentaries On the Laws of England

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In the position of a creditor, because the law implies a promise to indemnify him principal and interest ; when, therefore, he has discharged the claim against the principal, he is entitled to pm'sue his remedy for money paid to the use of the principal, and he has also a right against any co-sureties that may exist for contributions, and can sue them for money paid to their use.
WJiat are a surety's rights against a creditor whose debts lie has paid ?
By 19 & 20 Vict. C. 97, s. 5, he has a r
...ight to have the creditor's secm'ities in respect of the debt assigned to him, to stand in the place of the creditor, as against the principal debtor or any co-surety.
What is a hond, and what are the various Jcinds ?
An obligation by deed, whereby the obligor declares himself, his heirs, executors, and administrators bound to pay a certain sum of money, which is called a simple bond, or with a condition added that if the obligor does or omits to do some particular act the obligation shall be void, or else shall remain in fall force.


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