Commercial Law,

Kindly assist by answering this, answers might be based on SA law

A suretyship is an accessory contract by which one person undertakes liability for anothers 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. (10 Marks)