Rights of co-guarantors, Business Law and Ethics

Rights of co-guarantors among themselves

A guarantor who that has paid more than his share below the guarantee is entitled such to contribution from his co-guarantors, although they are bound through the same or different instruments, and such whether he knew or like not of the existence of co-guarantors on the time he became bound. Conversely the doctrine of contribution is not founded on contract, because is the result of general equity on the ground of such equality of burden and benefit there.

Because obtain contribution, just all the guarantors must have guaranteed such the same debt. Whether there is, since no right of contribution.

1. Whether every guarantor has expressly agreed merely to be liable such for a given portion about one sum of money.

2. When guarantors are bound through different documents for equal portions of a debt due from such the same principal, and such the guarantee of every is a separate and like distinct transaction.

Posted Date: 2/2/2013 7:33:38 AM | Location : United States







Related Discussions:- Rights of co-guarantors, Assignment Help, Ask Question on Rights of co-guarantors, Get Answer, Expert's Help, Rights of co-guarantors Discussions

Write discussion on Rights of co-guarantors
Your posts are moderated
Related Questions
Both Sudan and the US are signatories to the "New York Convention."  A Sudanese company has won its case in a Sudanese arbitration panel.  The U.S. company has declined to pay this

Liability in Tort A partner commits a tortious act so then the remaining partners are jointly and hence severally liable with him, thus provided they authorised such the act e

It has been said that "auditors cannot legitimately serve the 'user' public because they are hired and fired by the management of the company being audited. If management does not

Indicators of phoenix activity Stakeholders noted that there are a range of 'signals' or 'indicators' that phoenix activity may be about to occur. These generally occur before t

The below is a scenario in which I have to make an IRAC for (not sure if you know what that is) but read the scenario and see if "Faye" is able to leave legally without ramificat

Standard of proof in civil cases: Therefore the standard of proof in civil cases is on a preponderance of probabilities or on a balance of probabilities.  So it must be more p

Articles of association: The articles of association cannot absolve the auditors from any obligation imposed upon them by the statute....  Under the statute the members of the

Duties of an Advocate First is, Duty to the Court Whether as an officer of court an advocate is bound to assist in administration of the justice.  Thus he must adv

Spill over Effects of Monetary Policy There are three broad ways in which aggregate demand policies in one country can spillover to affect another country. These are the real i

Differences members and creditors voluntary wind up: main differences between a members' and a creditors' voluntary winding up are that : (a) in a creditors' voluntary win