Contracts Act · s 100

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100.
Liability of co-sureties bound in different sums
Co-sureties who are bound in different sums are liable to pay equally as far as the limits of their respective obligations permit.
Illustrations
(a)
A, B and C, as sureties for D, enter into three several bonds, each in a different penalty namely, A in the penalty of $10,000, B in that of $20,000, C in that of $40,000, conditioned for D’s duly accounting to E. D makes default to the extent of $30,000. A, B and
C are each liable to pay $10,000.
(b)
A, B and C, as sureties for D, enter into three several bonds, each in a different penalty namely, A in the penalty of $10,000, B in that of $20,000, C in that of $40,000, conditioned for D’s duly accounting to E. D makes default to the extent of $40,000. A is liable to pay $10,000, and B and C $15,000.
(c)
A, B and C, as sureties for D, enter into three several bonds, each in a different penalty namely, A in the penalty of $10,000, B in that of $20,000, C in that of $40,000, conditioned for D’s duly accounting to E. D makes default to the extent of $70,000. A, B and
C have to pay each the full penalty of his bond.
                                                      PART 8A                                              [S 3/2016]
Scholarship Agreements

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s 100Liability of co-sureties bound in different sums

Co-sureties who are bound in different sums are liable to pay equally as far as the limits of their respective obligations permit.

Illustrations

(a)

A, B and C, as sureties for D, enter into three several bonds, each in a different penalty namely, A in the penalty of $10,000, B in that of $20,000, C in that of $40,000, conditioned for D’s duly accounting to E. D makes default to the extent of $30,000. A, B and

C are each liable to pay $10,000.

(b)

(c)

C have to pay each the full penalty of his bond.

PART 8A [S 3/2016]

Scholarship Agreements