Entering payment on note does not extend statute of limitations against surety.

- Payment and entry on a note by the principal did not prevent the bar of the statute of limitations from attaching in favor of the surety's security under former Code 1873, §§ 2157 and 2938. McBride v. Hunter, 64 Ga. 655 (1880).

Credits on note do not extend statute of limitations whether made by principal or cosurety.

- Whether the credits on the notes were made by the principal or the maker thereof, or by the present plaintiff as surety, these payments or credits did not extend or revive the original liability, did not create new promises that were binding upon any of the other sureties who were not parties to such payments, and did not constitute new points for the running of the statute of limitations insofar as the rights of other sureties not parties to such payments were concerned. This principle falls within the spirit, if not the letter, of this section. McLin v. Harvey, 8 Ga. App. 360, 69 S.E. 123 (1910).

Waiver of contractual limitations on time to sue.

- When surety company led bank to believe that claim under bond sued on would be paid by surety company, without suit, if the bank would by legal proceedings force exhaustion of administrator's bond before calling upon cashier's bond, and thus determine the amount due by the surety company on the cashier's bond on account of embezzlement of bank's cashier, the surety company could not take advantage of the provision in the policy requiring that action thereunder be brought within a stated time. American Sur. Co. v. Peoples Bank, 55 Ga. App. 28, 189 S.E. 414 (1936).

Cited in Benson v. Henning, 50 Ga. App. 492, 178 S.E. 406 (1935).

Am. Jur. 2d.

- 74 Am. Jur. 2d, Suretyship, § 18 et seq.

C.J.S.

- 72 C.J.S., Principal and Surety, § 180 et seq.

ALR.

- Release of payee from warranty constituting a part of the consideration for a note as releasing a surety, 7 A.L.R. 1605.

Incapacity of principal to contract as affecting liability of guarantor or surety, 24 A.L.R. 838; 43 A.L.R. 589.

Endorsing payment upon note before maturity as releasing surety or endorser, 37 A.L.R. 477.

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.

Extension of time or other modification of original contract as releasing indemnitor of surety or guarantor, 43 A.L.R. 1368.

Creditor's reservation of rights against surety in releasing or extending time to principal debtor, 139 A.L.R. 85.

Right to join principal debtor and guarantor as parties defendant, 53 A.L.R.2d 522.

Application of payments as between debts for which a surety or guarantor is bound and those for which he is not, 57 A.L.R.2d 855.

Guarantor of nonnegotiable obligation as released by creditor's acceptance of debtor's note or other paper payable at an extended date, 74 A.L.R.2d 734.