Joint and Several Guarantor
Guarantor jointly liable with the principal debtor, lacking rights of excussion and demand. Creditor can claim full amount directly. 2020 reform requires notarized consent for business loan guarantors.
Statute Reference
民法454条
FAQ
Q. What does Joint and Several Guarantor mean?
Guarantor jointly liable with the principal debtor, lacking rights of excussion and demand. Creditor can claim full amount directly. 2020 reform requires notarized consent for business loan guarantors.
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