Now L died and was succeeded by his son M. L had already paid nearly a third of his debt. M thus owed less interest on the loan still due and was accepted by C as tenant at a lower rent. By this means M really made a small profit to himself. In three years M had paid off the whole sum borrowed by his father, and due from him as heir and executor, so he gave back his father’s bond to C, also D’s bond to L. Now D paid back his loan to M. His bond to L was destroyed. The claim of C on D was annulled, the guarantees of D were free. A final deed of settlement was drawn up, in which C acknowledged that he had no claims on D or M, nor on D’s sureties. He had to say this, because he was not only creditor to M, but as long as he held transferred to him the pledge of D, and the credit of L, he was a creditor with claims on D also. Further, M declares that he has no credit on D.(700) (M653) A guarantee arises from certain persons undertaking to fulfil a responsibility which is legally incumbent on another, in case he fails to do so himself; or to secure that he shall fulfil it himself. Thus, guarantees are very frequent at all times, especially in the later Babylonian period, and are of many different kinds. (M654) A guarantee for debt was an additional security to the creditor. Of course, the original debtor is the security that the guarantor shall not lose. A good example showing all sides is the following bond for three minas due from D to L. G and W come in and guarantee that D will pay; if not, they will. To protect themselves, they take as a pledge of D some of his people. But D paid and received back his people, so that the bond was returned to D.(701) Why D did not give his people as pledge to L direct is not clear. G and W were probably persons of greater credit and perhaps related to D. The guarantor was sometimes called on to pay. Thus G guarantees for D, is called on to pay and D repays him.(702) The guarantor was legally protected against the defaulting debtor.(703)