Section 143. Guarantee obtained by concealment invalid

143. Guarantee obtained by concealment invalid .—Any guarantee which the creditor has obtained by means of keeping silence as to material circumstances, is invalid. Illustrations (a)A engages B as clerk to collect money for him. B fails to account for some of his receipts, and A in consequence calls upon him to furnish security for his duly accounting. C gives his guarantee for B's duly accounting. A does not acquaint C with B's previous conduct. B afterwards makes default. The guarantee is invalid.