N.Y. Gen. Oblig. Law § 15-701

Current through 2024 NY Law Chapters 1-50, 52-55, 57, 61-117

Section 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.