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What is a suretyship?

What is a suretyship? Here are some definitions.

Noun
  1. (law) An accessory agreement through which a person binds themselves for another already bound, either in whole or in part, as for their debt, default or miscarriage; the assumption of liability for the obligations of another.
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Examples
There is no doubt that in a contract of guarantee parties may, if so minded, exclude any one or more of the normal incidents of suretyship.
This clause of the statute is discussed more at length in the chapter on suretyship.
But even then there was for her no suretyship of motherhood, or training, or control.
For instance, suretyship does not restrict immediately the right of ownership of a surety over his property.
Attempts to perform such acts of suretyship are beyond their power, and are ultra vires.
In the first case, the title of the contract referred to as suretyship, but the contract itself was riddled with contradictions.

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