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Civil Bail Is A Personal Guarantee For The Bank Loan | ||
| Journal of Anbar University for Law and Political Sciences | ||
| Article 22, Volume 15, Issue: 1 part 1, March 2025, Pages 612-638 PDF (830.26 K) | ||
| Document Type: Research Paper | ||
| DOI: 10.37651/aujlps.2024.154767.1383 | ||
| Author | ||
| khudayr mukhif faris* | ||
| Karbala University/ Center for Strategic Studi | ||
| Abstract | ||
| The guarantee is one of the most widespread personal guarantees in the field of banking because of its characteristics, and it is one of the simple legal mechanisms, as a civil personal guarantee is often presented to the bank - even if the bank’s work is commercial - from a person who guarantees the fulfillment of his obligations arising from the implementation of credit,including the loans granted.The guarantee is established based on a contract between the guarantor and the creditor(the lending bank), and the debtor-borrower is not a party to the contract.It creates a personal obligation on behalf of the guarantor,so that the creditor has more than one obligation to guarantee his debt (the loan).It creates a personal obligation for the guarantor, so that the creditor has more than one debtor.The guaranty, as a contract, requires the fulfillment of the general elements known in civil law for all contracts,such as consent,capacity, place, and reason.It also requires the guarantor to fulfill several conditions, including his left.The guarantee has several effects, whether through the creditor’s relationship with the guarantor, such that the creditor does not have recourse to the guarantor unless certain conditions are met, including recourse to the debtor first, as well as the creditor obtaining a ruling and other conditions, or through the guarantor’s relationship with the debtor by granting the guarantor the right to recourse against the debtor on the claim of (personal) guaranty) | ||
| Keywords | ||
| civil guarantee; bank loan; guarantor; creditor lender; debtor | ||
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