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PRELIMINARY DRAFT 29(?) 1

handle is hein.ali/relwsec0420 and id is 1 raw text is: Chapter 6a SUB- $bUIRTYSIII P § 156a. Sub-Suretyship Defined. Sub-suretyship is the relation which exists where plural sureties are bound under such circumstances that performance which may be required of any of them should not be sharerd between them but should be satisfied entirely by one, or some, for the complete proteotion of another, or others. Comment: a. Suretyship in its simplest form is a tripartite relation involving a creditor, a principal and a surety. If there are two or more sureties they are usually co-sureties; but in ex- ceptional situations one of them, as between himself and another, may be liable for the entire loss caused by the default of the principal, and hence not be a co-surety of that other as defined in section 141. vhere this is true there are two interlocking tripartite relations. AS far as the principal debtor is concerned there are two sureties. Viewed only from the standpoint of the two sureties, one of them is a principal and the other a surety under section 82. Illustrations: 1. P owes C il00 for which S is surety and S1 sub-surety. ,.t maturity P is bankrupt and S pays C in full. S has no right of reimbursement or contribution from S3. 2. Same facts as illustration 1 except that C is paid by 51. Sl can obtain reimbursement from S. b. To entitle the paying sub-6urety to recover from the

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