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Post by account_disabled on Nov 4, 2023 5:17:48 GMT
The content of the main obligation determines the duration of the guarantor's obligation. Case law Judgment of the Supreme Court of June , , ref. no. act II CSK / The guarantor's declaration should be submitted in writing under pain of nullity (Article § of the Civil Code). Without a doubt, the guarantor's written declaration does not have to contain the word "I guarantor" (or something similar), but it should indicate that the guarantor undertakes to perform the specified obligation towards the creditor in the event that the debtor fails to fulfill the obligation. The ad solemnitatem form applies only to the guarantor's declaration of will; the creditor's declaration of philippines photo editor will does not require any special form for its validity; it may be submitted in any form, including implicitly, for example by accepting a document containing the guarantor's declaration of will. The parties' declarations do not have to be submitted simultaneously, but if they were submitted on different dates, the surety agreement comes into effect when the party who submits the declaration of will as the second submits the declaration of will. Judgment of the Court of Appeal in Kraków of December , , ref. no. act I ACa / A surety is an accessory agreement to the agreement between the creditor and the debtor. It may also include other legal activities, but in the case it is sufficient to focus on the contractual relationship related to the loan agreement. The guarantor undertakes to make a payment to the creditor in the event of default by the debtor.
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