SURETYSHIP AND GUARANTY
†Restatement of the Law Third,
Suretyship and Guaranty
xx, 361 pp., 1996, Order Code 5542, $72 --
Order this item†Formerly called Restatement of the Law Third, Suretyship.
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This Restatement comprehensively sets forth and analyzes the doctrines, principles, and policies of suretyship law. The work represents the Institute’s first examination of the law of suretyship in more than half a century. The intervening period has seen dramatic developments in this body of law as modern contract theory and the policies embodied in the Uniform Commercial Code have been embraced by courts and commentators. All of this is reflected in this Restatement volume, which entirely supersedes Division II of the Restatement of Security (1941), the Institute’s previous treatment of the subject.
The text thoroughly covers the applications of suretyship law in the areas of both "traditional suretyship," including most prominently payment and performance bonds in construction contracts, and commercial law, notably financial transactions primarily involving the extension of credit. In both contexts the Restatement helps to determine which of two parties will initially bear a cost that both intended to be borne by a third party and provides mechanisms to pass that loss, when possible, to the third party. The volume is updated annually by a cumulative pocket part, which also contains citations to the Restatement of Security.
Reporter:
Neil B. Cohen, Brooklyn Law School, Brooklyn, New York; The American Law Institute Justice R. Ammi Cutter Reporter [from 1994].Associate Reporter
: Daniel Mungall, Jr., Philadelphia, Pennsylvania.Advisers:
Peter A. Alces, College of William and Mary, Marshall-Wythe School of Law, Williamsburg, Virginia; Dennis B. Arnold, Los Angeles, California; James A. Black, Jr., Tampa, Florida; Phillip I. Blumberg, University of Connecticut School of Law, Hartford, Connecticut; James F. Crowder, Jr., Miami, Florida; John F. Dolan, Wayne State University Law School, Detroit, Michigan; E. Allan Farnsworth, Columbia University School of Law, New York, New York; C. Allen Foster, Greensboro, NortCarolina [from 1991]; T. Scott Leo, Chicago, Illinois; Gerald T. McLaughlin, Loyola Law School, Los Angeles, California; Patrick J. O’Connor, Jr., Minneapolis, Minnesota; Donald J. Rapson, Livingston, New Jersey; Hugh E. Reynolds, Jr., Indianapolis, Indiana; Howard Ruda, New York, New York; Peter Winship, Southern Methodist University School of Law, Dallas, Texas; Robert A. Zadek, San Francisco, California.Tentative and Other Annual Meeting Drafts
Tentative Draft No. 1: Chapter 1. Transactions Governed by the Law of Suretyship; Chapter 2. Formation, Enforcement, and Interpretation of the Secondary Obligation; Chapter 3. Incidents of Suretyship Status (§§ 13-20)
xxi, 104 pp., 1992, Order Code 5376, $25 -- Order this itemTentative Draft No. 2: Chapter 3. Incidents of Suretyship Status (§§ 18-45)
xx, 149 pp., 1993, Order Code 5429, $30 -- Order this itemTentative Draft No. 3: Chapter 4. Multiple Secondary Obligors; Chapter 5. Enforcement of Secondary Obligations; Appendix: Revised §§ 9, 12, 12A, and 31
xix, 95 pp., 1994, Order Code 5469, $25 -- Order this itemTentative Draft No. 4: Part A. New Chapter Not Previously Submitted to Membership: Chapter 6. Rules Applicable to Particular Secondary Obligations; Part B. Other Material Not Previously Considered by Membership (§§ 31, 39A); Part C. Material Approved by Membership After Amendment (§§ 35, 38A); Part D. Material Previously Approved by Membership but Significantly Augmented (§§ 1, 2A, 3A, 3B, 6, 9, 17, 33, 37)
xviii, 120 pp., 1995, Order Code 5533, $25 -- Order this item