New York § 15-701 Surety not discharged by failure or refusal by creditor to sue principal debtor

New York Statutes

§ 15-701 — Surety not discharged by failure or refusal by creditor to sue principal debtor

New York § 15-701

Law GOBGeneral Obligations

Title 7Discharge of Surety

Art. 15Modification and Discharge of Obligations

This text of New York § 15-701 (Surety not discharged by failure or refusal by creditor to sue principal debtor) is published on Counsel Stack Legal Research, covering New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.Y. General Obligations § 15-701 (2026).

Text

  § 15-701. Surety not discharged by failure or refusal by creditor to\nsue principal debtor. Unless otherwise agreed between the parties in\nwriting, the failure or refusal by a creditor, after a demand by a\nperson bound as surety, to bring an action against a principal debtor\nupon a contract hereafter made or an obligation hereafter created for\nthe payment of money or the performance of any act shall not discharge\nsuch surety.\n

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§ 15-701. Surety not discharged by failure or refusal by creditor to\nsue principal debtor. Unless otherwise agreed between the parties in\nwriting, the failure or refusal by a creditor, after a demand by a\nperson bound as surety, to bring an action against a principal debtor\nupon a contract hereafter made or an obligation hereafter created for\nthe payment of money or the performance of any act shall not discharge\nsuch surety.\n