Under the Indian Contract Act, 1872, the liabilities of co-sureties are primarily governed by three sections:
Section 146: Co-sureties are liable to contribute equally to the debt, regardless of whether they are bound under the same or different contracts, unless an agreement states otherwise.
Section 147: If co-sureties are bound in different sums, they must contribute equally up to the limits of their respective obligations.
Section 138: The release of one co-surety by the creditor does not discharge the others, nor does it free the released surety from their responsibility to the remaining co-sureties.
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