from
Bouvier's Law Dictionary, Revised 6th Ed (1856)
GIVING TIME, contracts. Any agreement by which a creditor gives his debtor a
delay or time in paying his debt, beyond that contained in the original
agreement. When other persons are responsible to him, either as drawer,
endorser, or surety, if such time be given without the consent of the
latter, it discharges them from responsibility to him. 1 Gall. Rep. 32; 7
John. R. 332; 10 John. Rep. 180; Id. 587 Kirby, R. 397 3 Binn. R. 523; 2
John. Ch. R. 554; 3 Desaus. Ch. Rep. 604; 2 Desaus. Ch. R. 230, 389 2 Ves.
jr. 504; 6 Ves. jr. 805 3 Atk. 91; 2 Bos. & Pull,. 62; 4 M. & S. 232; Bac.
Ab. Obligations, D; 6. Dow. P. C. 238; 3 Meriv. R. 272; 5 Barn., & A. 187.
Vide 1 Leigh's N . P. 31; 1 B. & P. 652; 2 B. & P. 61; 3 B. & P. 363; 8
East, R. 570; 3 Price, R. 521; 2 Campb. R. 178. 12 East,.R. 38; 5 Taunt. R.
319; S. C. 1 E. C. L. R. 119; Rosc. Civ. Ev. 171; 8 Watts, R. 448; 4 Penn.
St. R. 73; 10 Paige, 76; and the article Forbearance.
2. But more delay in suing, without fraud or any agreement with the
principal, is not such giving time as will discharge the surety. 1 Gallis.
32; 2 Pick. 581 3 Blackf. 93 7 John. 332. See Surety.