California Civil Code 2854 – A creditor is entitled to the benefit of everything which a surety …
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A creditor is entitled to the benefit of everything which a surety has received from the debtor by way of security for the performance of the obligation, and may, upon the maturity of the obligation, compel the application of such security to its satisfaction.
(Enacted 1872.)
Terms Used In California Civil Code 2854
- 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.