Surety holder
A surety is a person provide a guarantee in the contract of guarantee. The surety is person who takes responsibility to pay a sum of money, he perform any duty for another person in case that person fails to perform such work. A suretyinvolves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults

Rights of surety holder:

1. Right against the creditor
Under section 141 the surety holds right or the surety
eligible for the benefit of every security which the creditor holds against the principal debtor.

2.Right against the principal debtor
Once the surety has been discharged from all the debt
he obtains the rights of a creditor against the principal debtor. He can sue the principal debtor because of the amount of debt paid by him to the creditor due to the default of the principal debtor.

3.Surety’s rights against the co-sureties
When a surety pays more than his share to the creditor in the company, he has a right of contribution from the co-sureties, who are equally liable to pay.

Liabilities of the surety holder:

According to Section 128 the liability of surety is coextensive with that of principal debtor unless it is otherwise provided by the contract
The provision that the surety is liability coexist with the principal debtor means that his liability is exactly the same as the principal debited.
It means that on a default having been made by principals debitor the creditor can recover from the surety all what he could recover from the principal debtor.
Harigopal Agarwal versus State Bank of India A.I.R.1956
The court has held in this case Hence the liability of principal debtor's is reduced after the creditor has recovered the part of the sum due from him of his property the liability of the surety is also reduced according.