Section 569
Obligation Of Sureties To Be Equal
(1) If two or more persons give
the guarantee jointly or severally for any loan or obligation and the
principal debtor fails to repay the loan or discharge the obligation,
the co-sureties shall repay the loan or discharge the obligation or
perform the contract on an equal basis, except as otherwise
provided for in the contract.
(2) If, while giving the guarantee jointly pursuant to subsection
(1), the co-sureties guarantee different parts, every surety
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shall be liable to pay or bear the obligation only to the extent of the
respective part guaranteed by him or her.