Cosureties
Cosureties are individuals or entities who jointly guarantee the same debt or obligation. When two or more parties become cosureties for a single principal, they share the responsibility for ensuring the debt is repaid. If the principal defaults, any of the cosureties can be held liable for the entire amount owed, regardless of how many cosureties there are.
The principle of contribution is central to the relationship between cosureties. This means that if one cosurety
Cosuretyship agreements are often established through a surety bond or a formal contract. This arrangement is