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    Syllabus Guaranty Surety

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    Leyy De Guzman
    The document summarizes key aspects of guaranty and suretyship under Philippine contract law. It discusses the nature and extent of guaranty, including characteristics of the contract and rules for construction. It also outlines the effects of guaranty on rights of creditors and debtors, as well as rights and remedies of guarantors. The document concludes by covering topics like extinguishment of guaranty, legal bonds, the nature of suretyship contracts, liability of sureties, and rights of sureties. Case law is referenced throughout to illustrate application of the concepts.

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    Syllabus Guaranty Surety

    Uploaded by

    Leyy De Guzman
    44 views2 pages
    The document summarizes key aspects of guaranty and suretyship under Philippine contract law. It discusses the nature and extent of guaranty, including characteristics of the contract and rules for construction. It also outlines the effects of guaranty on rights of creditors and debtors, as well as rights and remedies of guarantors. The document concludes by covering topics like extinguishment of guaranty, legal bonds, the nature of suretyship contracts, liability of sureties, and rights of sureties. Case law is referenced throughout to illustrate application of the concepts.

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    Syllabus-Guaranty-Surety

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    The document summarizes key aspects of guaranty and suretyship under Philippine contract law. It discusses the nature and extent of guaranty, including characteristics of the contract and rules for construction. It also outlines the effects of guaranty on rights of creditors and debtors, as well as rights and remedies of guarantors. The document concludes by covering topics like extinguishment of guaranty, legal bonds, the nature of suretyship contracts, liability of sureties, and rights of sureties. Case law is referenced throughout to illustrate application of the concepts.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    44 views2 pages

    Syllabus Guaranty Surety

    Uploaded by

    Leyy De Guzman
    The document summarizes key aspects of guaranty and suretyship under Philippine contract law. It discusses the nature and extent of guaranty, including characteristics of the contract and rules for construction. It also outlines the effects of guaranty on rights of creditors and debtors, as well as rights and remedies of guarantors. The document concludes by covering topics like extinguishment of guaranty, legal bonds, the nature of suretyship contracts, liability of sureties, and rights of sureties. Case law is referenced throughout to illustrate application of the concepts.

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    © All Rights Reserved
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    Download as doc, pdf, or txt
    of 2

     

    Course Title: CREDIT TRANSACTIONS

    IV. GUARANTY

    A. Nature and Extent of Guaranty (Art. 2047 to Art. 2057)

    1. Nature of the Contract

    Ong vs. PCIB GR. No. 160466, January 17, 2005


    Machetti vs. Hospicio de San Jose, 43 Phil 297
    Castelvi vs. Sellner, 41 Phil. 142
    Zobel vs. Ca, G.R. No. 113931, May 6, 1998
    Philam Guaranty vs. Ramos GR No. L-2078, February 28, 1966

    2. Characteristics of the Contract

    Philexport vs. Eusebio 434 SCRA 202


    Texas Co. vs. Alonzo, 73 Phil 90
    HongKong Shanghai Bank vs. Aldanese, 48 Phil 990

    3. Construction of Contract

    Menzi vs. Chuan, 69 Phil 46

    B. Effects of Guaranty

    - right of excussion (Art. 2058, 2060, 2062)

    Arroyo v. Jungsay, 34 Phil. 590


    Willex v. CA, 256 SCRA 428
    Varona v. CA, G.R. No. 125625, July 19, 1999

    - when the creditor may proceed directly against the guarantor


    (Art. 2059, 2081, 1280)

    - when guarantor may proceed against debtor before paying


    (Art. 2071, 2059, 2066)

    1. Rights and Remedies of Guarantors


    a. When guarantor pays (Art. 2066,2067)
    Philexport v. Eusebio, supra
    b. Request of third person (Art. 2072)
    c. Proceeds against co-guarantors (Art. 2073, 2074)

    2. Sub-guaranty (Art. 2051, par.2)

    a. Excussion (Art. 2058, 2064)


    b. When guarantor is insolvent (Art. 2075)
    C. Extinguishment of guaranty (Art. 2076, 1231, 1276, 1280, 2077, 2078, 2079,
    2080, 2067, 2061, 2063, 1261)

    Toh v. Solidbank, 408 SCRA 544;


    Radio Corp. v. Roa, 62 Phil. 211;
    Shannon v. Phil. Lumber, 61 Phil. 872;
    Castelvi v. Sellner, supra

    D. Legal and judicial bonds (Art. 2082-2084)

    Velasquez vs. Solidbank Corporation 550 SCRA 119


    Auto Corp group vs. Intra Strater Assurance Corp. 556 SCRA 250
    Delos Santos vs. Vibar 558 SCRA 437
    Bitanga vs. Pyramid Construction 563 SCRA 544
    Gateway Electronics Corp. vs. Asiabank Corp. 574 SCRA 698

    V. SURETYSHIP

    A. Nature of Contract (Art. 2047, par. 2)

    1. distinguished from solidary debtor (Art 1217 par 2.)


    2. subject of the same terms (Art. 1211, 2054)

    Ynchausti v. Yulo 34 Phil 978

    B. Liability (Art. 1216, 1222)

    C. Extinguishment

    1. payment (Art. 1217)


    2. novation (Art. 1215)

    Hospicio de San Jose vs. Fidelity 52 Phil 926


    Villa vs. Garcia, 49 Phil 128
    Asiatic Petroleum vs. Hizon 45 Phil 532
    Mabuhay Insurance vs. CA, March 30, 1970

    D. Rights of the Surety (Art. 2066,2067,2071,2079, 2080)

    Manila Surety v. Almeda, July 31, 1971


    Banzon vs. Cruz, June 29, 1972

    Accomplish this quiz on your own and submit on or before October 27, 5 pm.
    https://forms.gle/z5hQUckAmCvMWKSJ9

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