A creditor is entitled to the benefit of everything which a surety has received from the debtor by way of security for the performance of the obligation, and may, upon the maturity of the obligation, compel the application of such security to its satisfaction. SOURCE: CC § 2854. NOTE: No 1970 Civil Code '§ 2855-2857 existed. Article V of Chapter II of Title XIII of the Civil Code of Guam, Letters of Credit, ['§ 2858-2866] was repealed by P.L. 13-15. The law on Letters of Credit is now found in the Uniform Commercial Code, Title 13 of the Guam Code Annotated. No 1970 Civil Code '§ 2867-2871 existed.
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