Define co-sureties. State the rights available to surety against the co-sureties relating to contribution under the Indian Contract Act, 1872.

(a) “Co-sureties - When the same debt or duty is guaranteed by two or more persons, such persons are called co -sureties” . (a) Co-sureties liable to contribute equally (Section 146): Unless otherwise agreed, each surety is liable to contribute equally for discharge of whole debt or part of the debt remains unpaid by debtor. (b) Liability of co -sureties bound in different sums (Section 147): The principal of equal contribution is, however, subject to the maximum limit fixed by a surety to his liability. Co -sureties who are bound in different sums are liable to pay equally as far as the limits of their respective obligations permit.