The creditor may release or compound with the surety without releasing the principal, but the release of or compounding with one surety shall discharge a cosurety.
History. Orig. Code 1863, § 2129; Code 1868, § 2124; Code 1873, § 2152; Code 1882, § 2152; Civil Code 1895, § 2970; Civil Code 1910, § 3542; Code 1933, § 103-201.
Cross references.
Effect of commercial paper article of Uniform Commercial Code, § 10-7-27 .
Structure Georgia Code
Article 2 - Relative Rights of Creditor and Surety
§ 10-7-20. Effect of Release of or Compounding With Surety
§ 10-7-21. “Novation” Defined; Effect on Surety’s Liability
§ 10-7-22. Discharge of Surety by Increase of Risk
§ 10-7-24. Refusal to Sue Principal After Notice by Surety as Discharge
§ 10-7-25. Extending Liability
§ 10-7-26. Promise to Pay in Ignorance of Discharge
§ 10-7-27. Provisions of Uniform Commercial Code to Control
§ 10-7-28. Process Sued Out and Judgment Entered Against Surety as Such
§ 10-7-29. Judgment Against Principal and Surety at Same Time
§ 10-7-30. Bad Faith Refusal of Corporate Surety to Perform Suretyship Contract