of the ages is that "he that hateth suretyship is sure." The corporate surety has become the usual medium through which Burety business is being transacted today. Over $90,000,000 was paid in premiums in 1925 for fidelity and surety bonds. In this is not included premiums in various casualty lines. The gratuitous surety is today a negligible factor in modern business. In applying the old principles of the law of suretyship and guaranty to the compensated surety, certain new doctrines have developed with which the student and practitioner must acquaint himself. The increasing number of statutes providing for official bonds, as well as the giving of bonds in the course of judicial proceedings, makes the subject of suretyship one of increasing practical importance. A considerable portion of this book will be found devoted to a consideration of these topics. It is felt that the forms constantly used by courts, surety companies, and the government will be beneficial to the student, and a ready reference to the practitioner. Illustrative forms, approved by surety companies, the courts, and the government will be found. in the appendix. The collection into separate chapters of material on the statute of limitations and bankruptcy as affecting the law of suretyship and guaranty is a feature which it is hoped will prove helpful. It is impossible to give credit to all authorities consulted, or to each writer whose suggestions have contributed to this work. Many articles and cases have been read which are not referred to by name, because of lack of space, yet have contained suggestions. Each contribution to a subject must be built upon the foundation others have laid; so the many contemporary case and textbooks have not been neglected in the preparation of this work. Over a decade of teaching the subject, together with previous years of practice, have influenced the selection of the material. The author is indebted to his colleagues on the George Washington University Law School faculty, and to many friends among the law teachers of the country who have offered suggestions and criticisms; but he is particularly appreciative of the work of his colleagues, Professor A. E. Evans, and Professor B. H. Pollitt: the former has given aid in preparing the portions dealing with the bonds of administrators and executors; the latter aided in preparing Chapter XI. The courtesy of the Columbia Law Review, the Cornell Law Quarterly, the Illinois Law Review, the Minnesota Law Review, and the University of Pennsylvania Law Review in permitting the author to republish portions of articles prepared by him, and originally appearing in these legal periodicals, is especially appreciated. EARL C. ARNOLD. STOCKTON HALL, GEORGE WASHINGTON UNIVERSITY LAW SCHOOL, Washington, D. C., October 1, 1926. TABLE OF The surety and guarantor as distinguished by the courts. Formation of suretyship relation; personal and real suretyship. The guarantor of negotiable and non-negotiable instruments. |