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University of Michigan Law School

Articles

1919

Comparative and Foreign Law

Termination

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Termination Of A Continuing Guaranty, Edgar N. Durfee Jan 1919

Termination Of A Continuing Guaranty, Edgar N. Durfee

Articles

Several persons jointly and severally guaranteed to a bank the present and future obligations of a customer, stipulating that "the bank may grant extensions without lessening the liability" of the guarantors, that "this shall be a continuing guaranty, and shall cover all the liabilities which the customer may incur or come under until the undersigned, or the executors or administrators of the undersigned, shall have given the bank notice in writing to make no further advances on the security of this guaranty," and that "this guaranty shall not be affected by the death of the undersigned." One of the guarantors …