Personal warranties. Suretyship

Abstract

Personal guarantees represent a person (guarantor) assumed in favor of a creditor in order to guarantee the satisfaction of the creditor's claim against a debtor (principal debtor). The surety is the obligation of the guarantor (guarantor) assumed for the benefit of a creditor in order to guarantee the obligation that the debtor owes to the creditor (secured obligation) and which appears and becomes due only if the secured obligation appears and becomes due. The surety has a double meaning, namely: the right of guarantee, which arises from the contract concluded in favor of the creditor and the obligation assumed by a person outside a legally binding relationship. CZU: 347.468(478+498); JEL: K15; DOI: https://doi.org/10.53486/9789975359030.06