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ACCESSORY CONTRACT

One made for assuring the performance of a prior contract, either by the same parties or by others, such as suretyship, mortgages, and pledges.

It is a general rule that payment of the debt due or the performance of a thing required to be performed by the first or principal contract is a full discharge of such accessory obligation.

An accessory agreement to guaranty an original contract which is void has no binding effect.

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