A fidejussor is an individual who guarantees to repay another person’s debt. They can also serve as a surety for someone in a maritime court. In simpler words, a fidejussor is akin to a friend who pledges to settle your debt if you are unable to do so.
A fidejussor is a person who agrees to pay someone else’s debt. In Roman law, they act as a guarantor for a loan, promising to repay it if the borrower is unable to. In maritime law, a fidejussor serves as bail for a defendant in the Court of Admiralty. For example, John needed a loan for his business, but the bank was unsure about lending him the money. His friend Tom stepped in as a fidejussor, assuring the bank that he would repay the loan if John couldn’t. In a maritime court case, a defendant may require a fidejussor to act as bail. This means that the fidejussor pledges to pay a specific amount if the defendant fails to appear in court. These instances illustrate how a fidejussor assumes the responsibility of repaying a debt or acting as bail for someone else. Essentially, they are a guarantor who commits to paying if the borrower or defendant is unable to do so.
A fidejussor is a person who acts as a guarantor or surety for another person’s debt or obligation. They agree to be responsible for the debt if the debtor fails to fulfill their obligations.
The responsibilities of a fidejussor include guaranteeing the repayment of a debt or fulfilling the obligations of another person if they default. They are legally bound to fulfill these responsibilities.
Yes, a fidejussor can be held liable for the full amount of the debt if the debtor fails to repay. They are legally obligated to fulfill the obligations of the debtor.
In some cases, a fidejussor’s liability can be limited. This can be done through a written agreement between the fidejussor and the creditor, specifying the maximum amount for which the fidejussor will be liable.
Generally, a fidejussor cannot withdraw their guarantee once it has been given. They are bound by their commitment to fulfill the obligations of the debtor.
A fidejussor can be released from their obligations if the creditor agrees to release them or if the debtor fulfills their obligations. However, this usually requires the consent of all parties involved.
If the debtor files for bankruptcy, the fidejussor may still be held responsible for the debt. However, the specific circumstances and applicable laws may vary, so it is advisable to consult with a legal professional.
In some cases, a fidejussor may have the right to recover the amount paid on behalf of the debtor. This can be done through legal action against the debtor to seek reimbursement.
Yes, a fidejussor can be held responsible for interest and penalties if they are specified in the original agreement or if they are legally applicable to the debt.
Generally, a fidejussor’s liability cannot be transferred to another person without the consent of all parties involved. The original agreement and the terms of the guarantee would need to be amended to reflect any changes in liability.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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