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Contract Establishing the Secondary Obligation
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agreement agrees American Law Institute ary obligation ary obligor based on Restatement charged with notice contributive share cost of performance cosurety D's obligation debt derived from Restatement discharges the secondary duties pursuant duty of performance duty to reimburse Elder rev enforce entitled to reimbursement extent facts as Illustration gation Handbook impairment of collateral impairment of recourse Law of Suretyship liability mance ment misrepresentation NOTE This section obligee obligee's rights obligor with respect ondary obligor pal obligor party payment performance bond performs the secondary principal obli principal obligor principal obligor's duty principal surety relationship release repay the loan REPORTER'S NOTE Restatement of Security result rule secondary obligor performs secondary obligor's recourse secondary obligor's right security interest set-off Simpson Sj and S2 Statute of Frauds statute of limitations Stearns subrogation subsection subsurety subsuretyship Supp suretyship defense suretyship status tion underlying obligation Uniform Commercial Code unjust enrichment