A guarantee is a contract by which a person (guarantor) undertakes to the creditor of a third party to guarantee the fulfilment of the third party’s obligation. It is accessory, i.e. it depends on the main liability in terms of its origin and scope.
Term-Nr.: 424
German: Bürgschaft (201)
Source: LK-Lötscher, 11.05.2020
Leave a Reply
Want to join the discussion?Feel free to contribute!