What is exoneration vs subrogation?
In a suretyship agreement the creditor will have certain options against the debtor. These include exoneration and subrogation:
Exoneration: This is a lawsuit to compel the debtor to pay the creditor before the surety makes payment.
Subrogation: This includes the right to enforce any rights that the debtor had on the credit. This will be performed after the surety has paid the credit.
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