Consideration for guarantee: creditor's extension of credit or forbearance can support a third party surety's promise. Consideration for guarantee exists when something done or promised for the benefit of the principal debtor-such as the creditor extending credit or forbearing to sue at the debtor's request-constitutes sufficient consideration for a surety's promise. Acts or induced forbearance by the creditor that confer a real benefit or are given in reliance on the third party's assurance support the guarantee, whereas a subsequent gratuitous promise without such consideration is void.