State the circumstances in which the guarantor will be discharged

Variation of the terms of the contract without the guarantors knowledge.
If the guarantor extends the duration within which the principal debtor must fulfill his obligation

If it is apparent that the guarantee was obtained by concealment of material circumstances.• If evidence shows that the guarantee was obtained by fraud.• Revocation of a continuing guarantee by the guarantor.
Discharge of the principal debtor.
• Failure by the creditor to take any step necessary to protect the guarantor.
Release of a co-guarantor.
If the creditors action against the principal debtor is statute barred.
Fulfillment of obligation by the principal debtor.
Supervening illegality.

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