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Definition
Article 483
The payment of a bill of exchange may be secured entirely or in part through a guarantee. The guarantee may be given by a third party or by a person whose signature has already been put on the bill of exchange.
Form
Article 484
- (1)
- The guarantee shall be put on the bill of exchange or on the allonge. It shall be expressed by the words "as guarantee" or another phrase of equivalent meaning, and must be signed by the guarantor.
- (2)
- The signature on the face of the bill of exchange shall be considered a guarantee, unless it is the signature of the drawee or the drawer.
- (3)
- Where the guarantor has not indicated for whom he guarantees, it shall be considered that the guarantee is for the drawer.
Liability of the Guarantor
Article 485
- (1)
- The guarantor shall be liable in the same way as the person for whom he has guaranteed.
- (2)
- The obligation of the guarantor shall be valid also where the obligation for which it has been undertaken is not valid for any reason whatsoever, except for defect in the form.
- (3)
- The guarantor who has paid the bill of exchange shall assume the rights under it against the person for whom he has provided the guarantee, and against all persons liable to that person under the bill of exchange.
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