California Civil Code 2850 – Whenever property of a surety is hypothecated with property of the …
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Whenever property of a surety is hypothecated with property of the principal, the surety is entitled to have the property of the principal first applied to the discharge of the obligation.
(Enacted 1872.)
Terms Used In California Civil Code 2850
- 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.
- property: includes property real and personal. See California Civil Code 14