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Surety not discharged when agreement made with third person to give time to principal debtor

Surety not discharged when agreement made with third person to give time to principal debtor :

Section –  136. Where a contract to give time to the principal debtor is made by the creditor with a third person, and not with the principal debtor, the surety is not discharged.

Illustration

C, the holder of an overdue bill of exchange drawn by A as surety for B, and accepted by B, contracts with M to give to B. A is not discharged.