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Guaranty vs. Surety: Legal Insights by kimuchos is a document available to read on EtoBox.

Phil. Export v. V.P. Eusebio discusses the difference between a guaranty and suretyship, with a guaranty being subsidiary and conditional on the principal debtor defaulting first before resorting to the guarantor. SOCONY v. Cho Siong establishes that a surety cannot be held liable for debts of a former agent under a separate contract the surety was unaware of. Ong v. PCIB outlines the differences between a guarantor and surety, with the surety being an insurer of the debt itself rather than just the debtor

Author

kimuchos

Language

EN