GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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11:49 Oct 4, 2013 |
French to Russian translations [PRO] Law/Patents - Law: Contract(s) | |||||
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| Selected response from: Oleg Lozinskiy Russian Federation Local time: 22:05 | ||||
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Summary of answers provided | ||||
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4 +1 | право разделения [(имущественной)] ответственности |
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право разделения [(имущественной)] ответственности Explanation: * -------------------------------------------------- Note added at 11 мин (2013-10-04 12:00:56 GMT) -------------------------------------------------- Guarantors may be able to restrict liability by relying on the customary law defences of: i) "droit de discussion" - whereby a creditor must have recourse to the assets of the principal debtor before the creditor has recourse to the property of the guarantor. ii) "droit de division" - a creditor must divide the demand for the debt amongst the coguarantors in just proportions. It is usual for a creditor to require a guarantor or guarantors to waive or abandon these "droits" when entering into a guarantee arrangement. http://www.lexmundi.com/images/lexmundi/PracticeGroups/RealE... -------------------------------------------------- Note added at 17 мин (2013-10-04 12:06:14 GMT) -------------------------------------------------- RIGHT OF DIVISION, Scottish law. The right which each of several cautioners (sureties) has to refuse to answer for more than his own share of the debt. To entitle the cautioner to this right, the other cautioners must be solvent, and there must be no words in the bond to exclude it. 1 Bell's Com. 347, 5th ed. http://legal-dictionary.thefreedictionary.com/Right of divis... |
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