Maryland Code, PUBLIC SAFETY 14-205
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Terms Used In Maryland Code, PUBLIC SAFETY 14-205
- Contract: A legal written agreement that becomes binding when signed.
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- Writ: A formal written command, issued from the court, requiring the performance of a specific act.
(a) If in accordance with this subtitle a court stays, postpones, or suspends the enforcement of an obligation or liability, the prosecution of a suit or proceeding, the entry or enforcement of an order, writ, judgment, or decree, or the performance of any other act, the court may also grant the same stay, postponement, or suspension to a surety, guarantor, endorser, or other person subject to the same obligation or liability, the performance or enforcement of which is stayed, postponed, or suspended.
(b) If in accordance with this subtitle a court vacates or sets aside all or part of a judgment or decree, the court may also vacate or set aside all or part of the judgment or decree as to a surety, guarantor, endorser, or other person liable under the contract or liability for the enforcement of which the judgment or decree was entered.