Foreclosure of Mortgage or Enforcement of Security Given by Principal

1. Law
2. Georgia Code
3. Commerce and Trade
4. Suretyship
5. Rights of Surety Against Principal, Cosureties, and Third Persons
6. Foreclosure of Mortgage or Enforcement of Security Given by Principal

If the principal executes any mortgage or gives other security to the surety or endorser to indemnify him against loss by reason of his suretyship, the surety or endorser may proceed to foreclose such mortgage or enforce such other lien or security as soon as judgment shall be rendered against him on his contract.

(Orig. Code 1863, § 2142; Code 1868, § 2137; Code 1873, § 2164; Code 1882, § 2164; Civil Code 1895, § 2983; Civil Code 1910, § 3555; Code 1933, § 103-305.)

RESEARCH REFERENCES

ALR.

- Right of surety or his privies to require creditor to resort to security given by principal before enforcing security given by surety, 37 A.L.R. 1262.

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