On pain of nullity of his undertaking, the natural person guarantor shall himself affix the statement that he undertakes as guarantor to pay the creditor what he is owed by the debtor in the event of the latter’s default, within the limit of an amount in principal and accessories expressed in words and figures. In the event of a discrepancy, the guarantee is valid for the sum written out in…
The guarantor may raise against the creditor all defences, personal or inherent in the debt, which belong to the debtor, subject to the provisions of the second paragraph of article 2293. However, the guarantor may not rely on legal or judicial measures from which the debtor benefits as a consequence of his default, unless there is a special provision to the contrary.
The professional creditor is required to warn the natural person guarantor when the principal debtor’s commitment is unsuited to the latter’s financial capacities. Failing this, the creditor forfeits his right against the guarantor to the extent of the loss suffered by the latter.
If the guarantee given by a natural person to a professional creditor was, at the time it was entered into, manifestly disproportionate to the income and assets of the guarantor, it shall be reduced to the amount to which the guarantor could have committed himself at that date. .
The person who undertakes to provide a legal or judicial guarantee must be sufficiently solvent to meet the obligation. If this guarantor becomes insolvent, the debtor must substitute another guarantor, on pain of forfeiture of the term or loss of the advantage subordinated to the provision of the guarantee. The debtor may substitute a sufficient real security for the legal or judicial guarantee.
The professional creditor is obliged, before 31 March each year and at its own expense, to inform any guarantor who is a natural person of the amount of the principal of the debt, interest and other accessories outstanding at 31 December of the previous year in respect of the guaranteed obligation, on pain of forfeiture of the guarantee for interest and penalties due since the date of the previous information…
The professional creditor is required to inform any guarantor who is a natural person of the principal debtor’s default from the first payment incident not regularised within one month of the due date of this payment, on pain of forfeiture of the guarantee of interest and penalties accrued between the date of this incident and the date on which he was informed. In relations between the creditor and the guarantor,…
Within one month of receipt, the guarantor shall, at its own expense, communicate to the sub-guarantor natural person the information it has received pursuant to articles 2302 and 2303.
The benefit of discussion allows the guarantor to oblige the creditor to sue the principal debtor first. Neither a guarantor held jointly and severally with the debtor, nor a guarantor who has waived this benefit, nor a judicial guarantor may avail themselves of this benefit.
The benefit of discussion must be invoked by the guarantor from the first proceedings brought against him. The guarantor must indicate to the creditor the debtor’s assets that may be seized, which may not be disputed assets or assets subject to a special security interest in favour of a third party. If the creditor fails to pursue the debtor, he is liable to the guarantor for the debtor’s insolvency up…
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call us at +33 (0) 1 84 88 31 00 or send us an email.
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Resources
is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
Useful links
Our French business lawyers are here to help.
We offer a FREE evaluation of your case.
Call +33 (0) 1 84 88 31 00 or send us an email.
All information exchanged through this website will be communicated to lawyers registered with a French Bar and will remain confidential.
