Surety And Guarantor

Surety and guarantor, are both answerable for debt, default, or miscarriage of another but liability of guarantor is, strictly speaking, secondary, and collateral, while that of surety is original, primary and direct. In case of suretyship there is but one contract; and surety is bound by the same agreement which binds his principal, while in case of guaranty there are two contracts and guarantor is bound by independent undertaking, Amulya Lal Choudhury v. Tripura Industrial Development Corporation, AIR 2007 Gau 113.