Page:United States Statutes at Large Volume 76A.djvu/313

–217– -217§ 3660. Regulation of bail The obligations of bail are governed by the law specially applicable thereto.

CHAPTER 93—GUARANTY IN GENERAL SUBCHAPTER I—GENERAL PBOTISIONS Sec.

3691. Definition of guaranty. SUBCHAPTER U—CREATION OF GUABANTT

3711. 3712. 3713. 3714. 3715.

Guarantor without knowledge of principaL Consideration. Writing; signature. Obligations which need not be in writing. Acceptance of guaranty; notice. SUBCHAPTER III—INTERPRETATION OF GUARANTT

3731. 3732. 3733. 3734.

Guaranty of incomplete contract. Guaranty that an obligation is good or collectible. Same; recovery. Same; guarantor's liability. SUBCHAPTER IV—^LIABILITT OF GUARANTORS

3751. 3752. 3753. 3754. 3755.

Conditional and unconditional guaranties. Inability of guarantor of payment or performance. Liability of guarantor of conditional obligation. Guarantor's obligation commensurate with that of principal. Illegal contract or personal disability of principal. SUBCHAPTER V—CONTINUING GUARANTT

3771. Definition of continuing guaranty. 3772. Revocation. SUBCHAPTER n—EXONERATION OF GUARANTORS

3791. 3792. 3793. 3794. 3795. 3706. 3797.

Alteration of original obligation; suspension of remedies or rights. Void promises. Rescission of agreement altering obligation or impairing remedy. Partial satisfaction of obligation. Delay in proceeding by creditor. Liability of indemnified guarantor notwithstanding modification or release. Effect of discharge of princijml.

Subchapter I—General Provisions § 3691. Definition of guaranty A guaranty is a promise to answer for the debt, default, or miscarriage of another person. Subchapter II—Creation of Guaranty § 3711. Guarantor without knowledge of principal A person may become guarantor even without the knowledge or consent of the principal. § 3712. Consideration Where a guuianty is entered into at the same time with the original obligation, or with the acceptance of the latter by the guarantee, and forms with that obligation a part of the consideration to him, no other consideration need exist. In all other cases there must be a consideration distinct from that of the original obligation. § 3713. Writing; signature Except as prescribed by section 3714 of this title, a guaranty must be in writing, and signed by the guarantor; but the writing need not express a consideration.

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