GA Code § 10-7-1 (2021)
2021 Georgia Code|Title 10 - Commerce and Trade|Chapter 7 - Suretyship|Article 1 - Contract of Suretyship|§ 10-7-1. Contract of Suretyship or Guaranty Defined; Liability of Surety Generally

 The contract of suretyship or guaranty is one whereby a person obligates himself to pay the debt of another in consideration of a benefit flowing to the surety or in consideration of credit or indulgence or other benefit given to his principal, the principal in either instance remaining bound therefor. Sureties, including those formerly called guarantors, are jointly and severally liable with their principal unless the contract provides otherwise. There shall be no distinction between contracts of suretyship and guaranty.   (Orig. Code 1863, § 2125; Code 1868, § 2120; Code 1873, § 2148; Code 1882, § 2148; Civil Code 1895, § 2966; Civil Code 1910, § 3538; Code 1933, § 103-101; Ga. L. 1981, p. 870, § 1.)   Cross references.   - Contract of guarantor on negotiable instrument, § 11-3-416.    Loan guaranties not state debt, § 20-3-269.   Law reviews.   - For article contrasting guaranty with suretyship in Georgia, see 2 Ga. B. J. 25 (1939). For article, "The Distinction Between Guaranty and Suretyship in Georgia," see 9 Ga. B. J. 273 (1947). For article surveying developments in Georgia commercial law from mid-1980 through mid-1981, see 33 Mercer L. Rev. 33 (1981). For survey article citing developments in Georgia contracts law from mid-1980 through mid-1981, see 33 Mercer L. Rev. 67 (1981). For annual survey of law of business associations, see 38 Mercer L. Rev. 57 (1986). For annual survey of construction law, see 43 Mercer L. Rev. 141 (1991). For comment discussing distinction between guaranty and suretyship, in light of McCallum v. Griffin, 289 F.2d 135 (5th Cir. 1961), see 24 Ga. B. J. 273 (1961). For comment, "Eleventh Circuit Survey: January 1, 2013 - December 31, 2013: Comment: Confirming the Enforceability of the Guaranty Agreement After Non-Judicial Foreclosure in Georgia," see 65 Mercer L. Rev. 1167 (2014).   JUDICIAL DECISIONS   ANALYSIS    General Consideration   Consideration for Obligation   Procedure    OPINIONS OF THE ATTORNEY GENERAL    Contract of guaranty is a collateral "obligation"  which is just as enforceable as any other contract. 1971 Op. Att'y Gen. No. 71-69.   Notes guaranteed by the Georgia Higher Education Assistance Corporation and the United States government were "obligations" within the meaning of Ga. L. 1965, p. 217, § 5(2). 1971 Op. Att'y Gen. No. 71-69.   RESEARCH REFERENCES   Am. Jur. 2d.   - 74 Am. Jur. 2d, Suretyship, § 1 et seq.   C.J.S.   - 72 C.J.S., Principal and Surety, § 12.   ALR.    - Liability of surety or guarantor for partnership in respect of transactions or defaults subsequent to change in personnel of the partnership, 45 A.L.R. 1426.    Liability of grantee assuming mortgage debt, to grantor, 76 A.L.R. 1191; 97 A.L.R. 1076.    Duration of continuing guaranty, 81 A.L.R. 790.    Liabilities of sureties on bond of guardian, executor, administrator, or trustee for defalcation or deficit occurring before bond was given, 82 A.L.R. 585.    Guaranty of "collection and payment" as independent guaranty of payment or only of payment through collection, 84 A.L.R. 289.    Guaranty of commercial credit of dealer as affected by latter's change of location or field of operation, 89 A.L.R. 651.    Penalty as limit of liability on bond which protects several persons, and their relative rights as affected thereby, 89 A.L.R. 1071.    Lessee as surety for rent after assignment, and effect of lessor's dealings (other than consent to assignment or mere acceptance of rent from assignee) to release lessee, 99 A.L.R. 1238.    Guaranty as covering renewals, after revocation, of claims within coverage at time of revocation, 100 A.L.R. 1236, 58 A.L.R.5th 325.    Validity, construction, and application of guaranty of corporate stock, or dividends thereon, by one other than corporation, 107 A.L.R. 1171.    Consideration for assumption of obligation as guarantor, surety, endorser, or indemnitor, after execution and delivery of principal contract, as predicable upon an antecedent promise to assume or furnish such obligation, 167 A.L.R. 1174.   Parol evidence rule as applied to written guaranty, 33 A.L.R.2d 960.   Who may enforce guaranty, 41 A.L.R.2d 1213.   Right to join principal debtor and guarantor as parties defendant, 53 A.L.R.2d 522.   Necessity of creditor giving guarantor notice of acceptance of guaranty, 6 A.L.R.3d 355.   Conflict of laws: what law governs validity and construction of written guaranty, 72 A.L.R.3d 1180.