$2\mathrm{.}1$ A suretyship agreement is a contract in which one party $($the surety$)$ agrees to pay the debt or perform the obligation of another party $($the principal debtor$)$ if the principal debtor fails to do so$.$ The five rights of a surety are:

Right to be Discharged: The surety has the right to be discharged from the suretyship agreement if the creditor fails to comply with any of the terms of the agreement or if the creditor releases the principal debtor from their obligations without the surety's consent.

Right to Contribution: If there are multiple sureties for the same debt, each surety has the right to claim contribution from the other sureties in proportion to their respective liabilities.

Right to Subrogation: After paying the debt, the surety has the right to step into the shoes of the creditor and exercise all the rights and remedies available to the creditor against the principal debtor.

Right to Exoneration: The surety has the right to be exonerated from liability if the principal debtor performs their obligations as agreed.

Right to Notice: The surety has the right to receive notice from the creditor of any default by the principal debtor, as well as any other information relevant to the surety's rights and obligations under the suretyship agreement.