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Suretyship
Personal Law
- Joint and several liability establishes the surety as a co-principal debtor, allowing the creditor to claim directly from them without first exhausting remedies against the primary debtor.
- The agreement includes an explicit waiver of the benefits of excussion and division, streamlining the legal process for the creditor to recover outstanding debts.
- Liability is comprehensive and unlimited, covering not only the principal debt but also interest, collection commissions, and legal costs on an attorney-and-own-client scale.
- The suretyship is irrevocable and remains fully enforceable regardless of any amendments to the principal agreement or indulgences granted to the debtor.
- A signed certificate from the creditor's management serves as prima facie evidence of the debt amount, facilitating expedited legal proceedings if necessary.
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