General Obligations Law 15-701 — Legislation

Legislation Search OpenLegislation Statutes Search Term Search icon Search up TITLE 7 Discharge of Surety next SECTION 15-702 Surety disclosure Viewing most recent revision (from 2014-09-22) View historical revision as of: -- Choose a Date -- 2014-09-22 Share Facebook Email SECTION 15-701 Surety not discharged by failure or refusal by creditor to sue principal debtor General Obligations (GOB) CHAPTER 24-A, ARTICLE 15, TITLE 7 § 15-701. Surety not discharged by failure or refusal by creditor to sue principal debtor. Unless otherwise agreed between the parties in writing, the failure or refusal by a creditor, after a demand by a person bound as surety, to bring an action against a principal debtor upon a contract hereafter made or an obligation hereafter created for the payment of money or the performance of any act shall not discharge such surety.