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In This Volume

  • 1 In sections 3, 4 and 5, “creditor” includes
  • (a) a surety and the endorser of a promissory note or bill of exchange who would, on payment by that person of the debt, promissory note or bill of exchange for which the suretyship was entered into or endorsement was given, become a creditor of the person giving the preference within the meaning of the sections, and
  • (b) the beneficiary of a trust or other person to whom liability is equitable only.

1979-143-1.