Supreme Court held that a surety's liability remains unchanged even if the creditor's claim against the co-surety is time-barred.
Sintesi Legislator
Generato dall'IAThe Supreme Court ruled that a surety's liability does not diminish when the creditor's claim against a co-surety is declared time-barred. The creditor argued that the co-surety's time-barred defense should reduce the primary surety's obligation, while the surety contended their liability remained absolute. The court decided that the time-bar applies only to the specific co-surety and does not alter the primary surety's statutory liability under the relevant law.
Regesto Legislator
Generato dall'IASection 10 of the Act on the Liability of Sureties; A surety's liability remains unchanged and cannot be reduced by a time-bar defense raised by the creditor against a co-surety.
Parole chiave
Generato dall'IADisposizioni normative citate
Generato dall'IADecisioni correlate
Generato dall'IATesto completo
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