Monday, November 5, 2007

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The qualification of independent guarantee (ba)

  • The mere reference in the guarantee contract basis sufficient to give a commitment to quality guarantee? Not since the future guarantor must demonstrate commitment since the Act of 1 August 2003 via a handwritten note.
  • How to describe a commitment hybrid, for example, entitled "Declaration of guarantee", by which a guarantor is a "joint and several surety" while agreeing to pay "first demand and without raising any exception whatsoever"? .

The purpose of the guarantor's debt is then modeled on that of the debtor (without the first criterion), however, there is indeed a commitment to renounce all exceptions (presence of the second criterion).

  • Guarantee self justified, in which the recipient must give reasons for its appeal as collateral should not she be reclassified as a bond?

jurisprudence has not considered the grounds that "the requirement of an application" justified ", which does not confer any right the guarantor to discuss its merits, not enough to prevent a finding of independent guarantee (Cass.com, July 12, 2005)

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