In Mallough v. Dick, supra, it was held that a delay of five years in, giving the surety notice of the principal debtor’s default, and the bankruptcy of the latter in the interval between the maturity of a note and the notice, did not release the surety of his obligation.
Get a full legal research memo!
The above passage should not be considered legal advice. Reliable answers to complex legal questions require comprehensive research memos. To learn more visit www.alexsei.com.