Law On Credit Transactions-Guaranty
Law On Credit Transactions-Guaranty
Law On Credit Transactions-Guaranty
__________________________________6. One where the guarantor does not receive any price or
remuneration for acting as such
__________________________________11. One where the guaranty includes not only the principal
obligation but also its accessories including judicial costs
__________________________________16.
TRUE OR FALSE
1. If a person, bind himself solidarily with the principal debtor, in this such case the contract is
called a suretyship.
2. If immovable the guaranty is in the form of pledge and if movable, in the form of real mortgage
or antichresis.
3. A guaranty is gratuitous, unless there is a stipulation to the contrary
4. A married woman may guarantee an obligation without the husband’s consent, but shall not
thereby bind the community or conjugal partnership.
5. A married woman who acts as a guarantor ordinarily binds only her separate property.
6. A guaranty can exist without a valid obligation.
7. A guarantor may bind himself for less, but not more than the principal debtor, both as regards
the amount and the onerous nature of the conditions.
8. The guarantor cannot be compelled to pay the creditor when the latter has exhausted all the
property of the debtor, and has resorted to all the legal remedies against the debtor.
9.
MULTIPLE CHOICE