2009 California Civil Code - Section 2819-2825 :: Article 6. Exoneration Of Sureties

CIVIL CODE
SECTION 2819-2825

2819.  A surety is exonerated, except so far as he or she may be
indemnified by the principal, if by any act of the creditor, without
the consent of the surety the original obligation of the principal is
altered in any respect, or the remedies or rights of the creditor
against the principal, in respect thereto, in any way impaired or
suspended. However, nothing in this section shall be construed to
supersede subdivision (b) of Section 2822.

2820.  That a promise by a creditor is for any cause void, or
voidable by him at his option, shall not prevent it from altering the
obligation or suspending or impairing the remedy within the meaning
of the last section.

2821.  The rescission of an agreement altering the original
obligation of a debtor, or impairing the remedy of a creditor, does
not restore the liability of a surety who has been exonerated by such
agreement.

2822.  (a) The acceptance, by a creditor, of anything in partial
satisfaction of an obligation, reduces the obligation of a surety
thereof, in the same measure as that of the principal, but does not
otherwise affect it. However, if the surety is liable upon only a
portion of an obligation and the principal provides partial
satisfaction of the obligation, the principal may designate the
portion of the obligation that is to be satisfied.
   (b) For purposes of this section and Section 2819, an agreement by
a creditor to accept from the principal debtor a sum less than the
balance owed on the original obligation, without the prior consent of
the surety and without any other change to the underlying agreement
between the creditor and principal debtor, shall not exonerate the
surety for the lesser sum agreed upon by the creditor and principal
debtor.

2823.  Mere delay on the part of a creditor to proceed against the
principal, or to enforce any other remedy, does not exonerate a
surety.

2824.  A surety, who has been indemnified by the principal, is
liable to the creditor to the extent of the indemnity,
notwithstanding that the creditor, without the assent of the surety,
may have modified the contract or released the principal.

2825.  A surety is not exonerated by the discharge of his principal
by operation of law, without the intervention or omission of the
creditor.

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