Guarantee In An Agreement

The principal right of the guarantee to the creditor entitles him, after the payment of the secured debt, to all the guarantees that the creditor holds against the principal debtor. If the creditor has lost these securities due to a delay or lay-off or made them unavailable by other means, the guarantee is discharged by tanto. This right, which is not verified until the guarantee is required to pay, extends to all securities, whether or not they are filled. [67] Very person who is sure of the debt or obligation of another, or who is responsible for a debt or obligation to pay that debt or duty, has the right to have given in to him. , or an agent for him, any judgment, specialty or other guarantee that the creditor holds with respect to that debt or obligation, whether or not that judgment, specialty or other guarantee in accordance with the law is fulfilled by the payment of the debt or the performance of the obligation, and that person is entitled to be in the place of the creditor or not. , whether it is legally accomplished by the payment of the debt or by the performance of the obligation, and that person is entitled to be in the place of the creditor. and to use all means of redress and, if necessary, to use the name of the creditor, the name of the creditor, in any action or other legal or capital procedure, in order to obtain, if necessary, compensation from the principal debtor or co-treater, a co-caregiver for the advances and losses suffered by the person who made or fulfilled this obligation; and this payment or benefit made by this guarantee is not in a position to undertake such an act or any other procedure on its part, provided that no co-insured, joint venturer or co-debtor has the right to recover from another co-censor, joint venturer or co-debtor with the above means than the fair share in which it is necessary to recover , as between these parties. , is responsible for the latter person to debtors. [68] The right of guarantee of the transfer of all rights of the creditor against the principal debtor in the event of payment of the debt guaranteed by the creditor is recognized in America[69] and in many other countries. [70] A guarantee agreement is often common for tuition loans, for which the government is guarantor. In this case, if the student defaults on the loan, the bank will call on the government to recover the outstanding credit debts.