“BINDS HIMSELF AS CO-PRICIPAL DEBTOR” – NO LONGER HAS THE EFFECT OF BINDING SURETIES AS CO-DEBTORS WHEN CLAIMING THE DEBT AMOUNT

Allen West Sean Janse van Rensburg A suretyship can be defined as a contract whereby a person, namely the surety, undertakes to the creditor of another person, namely the principal debtor, that as accessory to the principal debtor’s liability, the surety will be liable for the debt. What is evident from the aforementioned definition of …