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Revocation of Guaranty Legal FormAllLaw

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chapter 12 legal aspects of credit guarantee versus surety there would come an occasion when the credit and collection manager will encounter a credit applicant whose capacity to pay while verifiable has not been fully established it might help to require another individual with an established credit reputation to add his signature in the promissory note the word guarantor and its legal implications are not fully understood by many business students the law on guarantee 2047-2084 civil code states that the guarantor is only secondarily liable and he is required to pay if the principal cannot pay [Music] himself to the depth solidarity art 1207 states that there is solidarity liability only when the application expressly so states a solidarity application is one where each one of the debtors is liable to pay the full amount so i'm sure to ship it to all my responsibilities for another's performance of an undertaking halimbawa they are appealing in a court on the payment

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