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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

73-75 Main Avenue, LLC v. PP Door Enterprise, Inc., 991 A.2d 650 (2010)

Citation
73-75 Main Avenue, LLC v. PP Door Enterprise, Inc., 991 A.2d 650 (2010)
Parent Document
73-75 Main Avenue, LLC v. PP Door Enterprise, Inc., 991 A.2d 650 (2010)
Jurisdiction
Connecticut (state)
Effective Date
2010-03-30

Other Sections in This Document (71)

Full Text

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The Restatement (Third) of Suretyship and Guaranty notes that “surety-ship” and “guaranty” are two “common contractual mechanisms resulting in suretyship status .... Although there are important differences between the two mechanisms that should not be obscured, these differences relate to the duties contractually imposed on the secondary obligor by the secondary obligation and not to the nature of the rights inherent in suretyship status. . . . Thus, both are governed by the principles set forth in this Restatement.” Restatement (Third), Suretyship and Guaranty § 1, comment (c), pp. 6-7 (1996). 10