When a guarantee limits a surety's liability to a fixed sum, the surety may be liable either to pay a limited sum towards the ultimate balance remaining due after all money obtainable from other sources has been applied in reducing the debt of the principal debtor or as surety for a part of the debt only1. In the former case the creditor has the right to prove against the debtor's estate for the whole of his debt until he has received 100 pence in the pound, notwithstanding that he has received some payment from the
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234