If, since then, a surety has been obtained by fraud on the part of the person to whom it is granted, there is no binding contract. Fraud can consist of oppression, concealment or misrepresentation. However, only facts that are truly essential to the risk taken must be disclosed spontaneously. [40] The power of the parties to enter into a guarantee contract may be affected by the densanity or poisoning of the guarantee, if the creditor knows, or by an obstacle. The usual handicaps are those of minors. The debts of a surety depend on those of the principal debtor, and if the principal debtor`s obligations also waive the bonds of the bond[7], unless the relief of the principal debtor is carried out by the application of the law. [8] The secondary nature of the security liability, as well as the fact that the guarantee is a contract to respond to late payments, debts or miscarriages; the guarantee differs decisively from the compensation. [9] If, for example.B. a person mistakenly considers a person to be liable to him and a guarantee is given on that erroneous basis, the guarantee is not valid under contract law because its constitution (which was responsible) has failed. [10] Under English law, a guarantee is a contract by which the person (the surety) enters into an agreement to pay a debt or perform a bond by a third party who is primarily responsible for that payment or benefit. The size of the debt to this debt is due to the commitment of the third party. [3] It is an ancillary contract that does not erase the obligation to pay or provide initial benefits and is subject to the principal obligation. [4] It is cancelled if the original commitment fails.

In England, there are two forms of guarantee, (1) guarantees for the creation of a conditional payment, the guarantor paying in case of failure. In this form, the warranty can only be applied if there is an error. [5] (2) A « see to it » obligation when the surety is required to ensure that the awarding entity complies with the obligation. If this is not the case, the surety automatically violates its contractual obligation against which the creditor can take legal action. [6] If you are asked to take on the role of guarantor, take the time to determine the correct guarantee that you will accept. A surety must read and understand the loan guarantee contract. To help prepare a credit guarantee agreement, you can consult a lawyer to ensure that you are properly protected in your role as guarantor of the loan. The status also does not apply to a credere agent`s commitment not to make sales on behalf of his principal, except to persons who are absolutely solvent and makes the agent liable for losses that may result from non-compliance with his or her commitment. The promise to give a guarantee is within the status, but not one, to obtain a guarantee. The general principles that determine what is guaranteed in the Fraud Act are: (1) The primary responsibility of a third party must exist or be taken into account; [19] (2) the undertaking must be given to the creditor; 3.

The guarantee cannot be held liable regardless of an explicit guarantee commitment; 4. The main objective of the parties to the guarantee must be to respect the commitment of a third party; [20] and (5) The contract concluded should not be reduced to a sale of the creditor to the guarantor of the guarantee of a debt or the debt itself[21] The most productive reason for dismissal of a surety is generally the result of the creditor`s conduct. The principle of the rule is that if the creditor violates all the rights that the creditor held when he received the guarantee, while the damage is only nominal, the guarantee cannot be implemented.