The Effect of Financial Guaranty A Comparative Study

Authors

Dr. Majid Abu Rakhia, Professor of Islamic Jurisprudence - College of Sharia - University of JordanFollow

Abstract

After the author provided the definition of guaranty he showed its legal rational and validity, and then he explained its legal effects. The author summarized these effects as follows:

1. The right of the creditor to demand payment from the guarantor and the debtor.
2. The right of the guarantor to demand from both the creditor and the debtor to be discharged of his responsibility.
3. The right of the guarantor to sue the debtor.

The author then analyzed the conditions required for discharging the guarantor of his responsibility towards the creditor, and he provided this analysis by way of a comparative approach bet ween Islamic Jurisprudence, Civil Law of Jordan, and United Arab Emirates Law.

Recommended Citation

Abu Rakhia, Dr. Majid (1995) "The Effect of Financial Guaranty A Comparative Study," UAEU Law Journal: Vol. 1995: No. 9, Article 2.
Available at: https://scholarworks.uaeu.ac.ae/sharia_and_law/vol1995/iss9/2