Creditor's forbearance to sue does not discharge surety

Creditor's forbearance to sue does not discharge surety.-Mere forbearance on the part of the creditor to sue the principal debtor, or to enforce any other remedy against him does not in the absence of any provision in the guarantee to the contrary, discharge the surety :

Provided that by such forbearance the suit or remedy does not become barred by the Law of Limitation for the time being in force.

Illustration. B owes to C a debt guaranteed by A. The debt becomes payable. C does not sue B for a year after the debt has become payable.