GROUP 11

ARTICLES 2051 - 2055

ARTICLE 2051
A guaranty may be
conventional, legal or judicial,
gratuitous or by onerous title.

It may also be constituted, not

only in favor of the principal
d e b t o r, b u t a l s o i n f a v o r o f t h e
o t h e r g u a r a n t o r, w i t h t h e l a t t e r
consent, or without his
knowledge, or even over his
objection.
ARTICLE 2052
A guaranty cannot exist
without a valid obligation.
Nevertheless, a guaranty
may be constituted to
guarantee the performance
of a voidable or an
unenforceable contract. It
may also guarantee a
natural obligation.
ARTICLE 2053
A guaranty may also be
given as security for future
debts, the amount of which
is not yet known; there can
be no claim against the
guarantor until the debt is
liquidated. A conditional
obligation may also be
secured.
GUARANTY OF
CONDITIONAL
OBLIGATION
SUSPENSIVE
CONDITION
RESOLUTORY
CONDITION
ARTICLE 2054
A guarantor may bind himself
for less, but not for more than
t h e p r i n c i p a l d e b t o r, b o t h a s
regards the amount and the
onerous nature of the
conditions.

Should he have bound himself

for more, his obligations shall
be reduced to the limits of
t h a t o f t h e d e b t o r.
ARTICLE 2055
A guaranty is not presumed; it must
be express and cannot extend to
more than what is stipulated therein.

If it be simple or indefinite, it shall

comprise not only the principal
obligation, but also all its
accessories, including the judicial
costs, provided with respect to the
l a t t e r, t h a t t h e g u a r a n t o r s h a l l o n l y
be liable for those costs incurred
after he has been judicially required
t o p a y.
BANK
LIABILITIES