Georgia Commons

Title 10. COMMERCE AND TRADE

Chapter 7. SURETYSHIP

34 sections · 10-7-1 to 10-7-57

Article 1. CONTRACT OF SURETYSHIP

  1. 10-7-1Contract of suretyship or guaranty defined; liability of surety generally.
  2. 10-7-2Nature of obligation of surety.
  3. 10-7-3Suretyship not extended by implication.
  4. 10-7-4Form of contract immaterial.

Article 2. RELATIVE RIGHTS OF CREDITOR AND SURETY

  1. 10-7-20Effect of release of or compounding with surety.
  2. 10-7-21Novation; effect.
  3. 10-7-22Discharge of surety by increase of risk.
  4. 10-7-23Refusal to deliver evidence of debt and securities on tender of amount of debt as discharging surety.
  5. 10-7-24Refusal to sue principal after notice by surety as discharge.
  6. 10-7-25Extending liability.
  7. 10-7-26Promise to pay in ignorance of discharge.
  8. 10-7-27Provisions of Uniform Commercial Code to control.
  9. 10-7-28Process sued out and judgment entered against surety as such.
  10. 10-7-29Judgment against principal and surety at same time.
  11. 10-7-30Bad faith refusal of corporate surety to perform suretyship contract.
  12. 10-7-31Rights of certain parties claiming protection under a payment bond or security deposit; notice of commencement of work.

Article 3. RIGHTS OF SURETY AGAINST PRINCIPAL, COSURETIES, AND THIRD PERSONS

  1. 10-7-40Attachment against principal.
  2. 10-7-41Right of surety or endorser to recover amount paid, interest, and costs.
  3. 10-7-42Effect of judgment against surety.
  4. 10-7-43Recovery of usury paid by surety.
  5. 10-7-44Foreclosure of mortgage or enforcement of security given by principal.
  6. 10-7-45Proof of suretyship by parol.
  7. 10-7-46Proof of suretyship after judgment.
  8. 10-7-47Control of execution and judgment by surety; subrogation to plaintiff’s rights.
  9. 10-7-48Control of execution and judgment by surety when sued separately.
  10. 10-7-49Payment pending action; judgment for plaintiff for use of surety.
  11. 10-7-50Compelling contribution from cosureties after paying more than equal share; effect of cosurety’s insolvency.
  12. 10-7-51Interest on sum recovered as contribution.
  13. 10-7-52Duty to account for indemnification from principal; compelling transfer of security from principal.
  14. 10-7-53Controlling action on debt and judgments therein against cosureties.
  15. 10-7-54Endorser’s right to control judgment on debt and execution thereon.
  16. 10-7-55Protection of bona fide purchasers when surety controls judgment.
  17. 10-7-56Subrogation to rights of creditor; priority of claim.
  18. 10-7-57Substitution in place of creditor as to securities held by creditor.