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A suretyship contract requires three parties; a principal, an obligee, and a surety. In re Forfeiture of $8,141 of United States Currency, 172 Mich. App. 790, 792; 432 N.W.2d 442 (1988). A surety is one who undertakes to pay money or take any other action if the principal fails therein. Id. 'The liability of a surety is limited by the scope of the liability of its principal and the precise terms of the surety agreement.' Bd of Governors of Wayne State Univ v Building Systems Housing Corp, 62 Mich. App. 77, 85; 233 N.W.2d 195 (1975)(citation omitted). In general, a surety may plead any defense available to the principal, and the liability of the surety is coextensive with the liability of the principal in the bond and can be extended no further. In re MacDonald Estate, 341 Mich. 382, 387; 67 N.W.2d 227 (1954) 

Westveer v Landwehr, 276 Mich. 326; 267 NW 849 (1936), stands for its proposition that there is an exception to the general rule of discharge where the surety consents to the release of the principal.  In Westveer, a bank loaned money to a country club on multiple occasions, ...

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