Secondary Party

A person obligated to pay a debt if the person incurring the debt fails to pay it. The person from whom a creditor is first obliged to attempt to collect a debt is "primarily liable"; the parties from whom the creditor may then collect the debt are "secondarily liable." All the assets of the person secondarily liable may be used to satisfy the personal liability of the primary obligor. 276 F. 2d 714, 717.