Terracino v. Gordon and Hiller

Opinion

PETERS, J.

This case lies at the intersection of two principles of the law of suretyship. One principle permits a guarantor expressly to waive common-law defenses to his liability for the debt of another. Connecticut National Bank v. Douglas, 221 Conn. 530, 544-45, 606 A.2d 684 (1992). The other principle presumes that, between coguarantors for the same debt, each coguarantor is liable only for a contributive share of the total outstanding debt. Restatement (Third), Suretyship and Guaranty §§55 through 57 (1996); Collins v. Throckmorton, 425 A.2d 146, 151-52 (Del. 1980); Albrecht v.…