Suretyship – Commercial suretyship
Art. 3042. Commercial suretyship. A commercial suretyship is one in which:
(1) The surety is engaged in a surety business;
(2) The principal obligor or the surety is a business corporation, partnership, or other business entity;
(3) The principal obligation arises out of a commercial transaction of the principal obligor; or
(4) The suretyship arises out of a commercial transaction of the surety.
