A suretyship is an accessory contract by which one person undertakes liability for another's debt or financial obligations. You may have been approached by a friend to act as their surety/guarantor for a loan that they wish to take out.

1.1. In consideration of this decision you would need to understand the duties and rights that a surety would have. Explain the rights and duties of a surety. 1.2. Discuss the following rights of surety and provide support for your answer with examples: 1.2.1. Benefit of excussion. 1.2.2. Benefit of division amongst co-sureties. 1.2.3 Right of recourse against co-sureties.