Section 569: Obligation of sureties to be equal

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1) If two or more persons give the guarantee jointly or severally for any loan or obligation and the principal debtor fails to repay the loan or discharge the obligation, the co-sureties shall repay the loan or discharge the obligation or perform the contract on an equal basis, except as otherwise provided for in the contract.

2) If, while giving the guarantee jointly pursuant to sub-section (1), the co-sureties guarantee different parts, every surety shall be liable to pay or bear the obligation only to the extent of the respective part guaranteed by him or her.

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Section 569: Obligation of sureties to be equal

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