SECTIONS 2806-2811 - California Statutes

CIVIL CODE

SECTION 2806-2811

2806. A suretyship obligation is to be deemed unconditional unless
its terms import some condition precedent to the liability of the
surety.

2807. A surety who has assumed liability for payment or performance
is liable to the creditor immediately upon the default of the
principal, and without demand or notice.

2808. Where one assumes liability as surety upon a conditional
obligation, his liability is commensurate with that of the principal,
and he is not entitled to notice of the default of the principal,
unless he is unable, by the exercise of reasonable diligence, to
acquire information of such default, and the creditor has actual
notice thereof.

2809. The obligation of a surety must be neither larger in amount
nor in other respects more burdensome than that of the principal; and
if in its terms it exceeds it, it is reducible in proportion to the
principal obligation.

2810. A surety is liable, notwithstanding any mere personal
disability of the principal, though the disability be such as to make
the contract void against the principal; but he is not liable if for
any other reason there is no liability upon the part of the
principal at the time of the execution of the contract, or the
liability of the principal thereafter ceases, unless the surety has
assumed liability with knowledge of the existence of the defense.
Where the principal is not liable because of mere personal
disability, recovery back by the creditor of any res which formed all
or part of the consideration for the contract shall have the effect
upon the liability of the surety which is attributed to the recovery
back of such a res under the law of sales generally.

2811. Any party required to give a bond undertaking or other
obligation may agree with his surety for the deposit of any money and
assets for which the surety is responsible with a bank, savings
bank, safe deposit, or trust company authorized by law to do business
as such, or other depository approved by the court or a judge
thereof, if such deposit is otherwise proper, for the safekeeping of
such money and assets and in such manner as to prevent the withdrawal
of any or all such money and assets without the written consent of
the surety, or an order of court or a judge thereof, made on such
notice to the surety as the court or judge may direct. Such agreement
shall not in any manner release, or change the liability of, the
principal or surety as established by the terms of the bond.