2009 California Civil Code - Section 2792-2795 :: Article 2. Creation Of Suretyship

CIVIL CODE
SECTION 2792-2795

2792.  Where a suretyship obligation is entered into at the same
time with the original obligation, or with the acceptance of the
latter by the creditor, 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.

2793.  Except as prescribed by the next section, a suretyship
obligation must be in writing, and signed by the surety; but the
writing need not express a consideration.

2794.  A promise to answer for the obligation of another, in any of
the following cases, is deemed an original obligation of the
promisor, and need not be in writing:
   (1) Where the promise is made by one who has received property of
another upon an undertaking to apply it pursuant to such promise; or
by one who has received a discharge from an obligation in whole or in
part, in consideration of such promise;
   (2) Where the creditor parts with value, or enters into an
obligation, in consideration of the obligation in respect to which
the promise is made, in terms or under circumstances such as to
render the party making the promise the principal debtor and the
person in whose behalf it is made, his surety;
   (3) Where the promise, being for an antecedent obligation of
another, is made upon the consideration that the party receiving it
cancels the antecedent obligation, accepting the new promise as a
substitute therefor; or upon the consideration that the party
receiving it releases the property of another from a levy, or his
person from imprisonment under an execution on a judgment obtained
upon the antecedent obligation;
   (4) Where the promise is upon a consideration beneficial to the
promisor, whether moving from either party to the antecedent
obligation, or from another person;
   (5) Where a factor undertakes, for a commission, to sell
merchandise and act as surety in connection with the sale;
   (6) Where the holder of an instrument for the payment of money,
upon which a third person is or may become liable to him, transfers
it in payment of a precedent debt of his own, or for a new
consideration, and in connection with such transfer enters into a
promise respecting such instrument.

2795.  Unless notice of acceptance is expressly required, an offer
to become a surety may be accepted by acting upon it, or by
acceptance upon other consideration. An absolute suretyship
obligation is binding upon the surety without notice of acceptance.


Disclaimer: These codes may not be the most recent version. California may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.