On Claims of a Guarantor Who has Performed his Obligations against Another Guarantors

Abstract

The article is devoted to studying the issue of transferring the right of claim against other guarantors, who entered into contracts of guarantee with the creditor, to the guarantor who carried out all his obligations. As in jurisprudence there are two opposing approaches to solving this problem, the research seeks to draw a conclusion regarding which of these approaches honors the interests of the parties to the greatest extent. To this end, the author analyzes the ground of obligations arising from the contract of guarantee, and considers the contract on providing (issuing) guarantee. On the basis of scrutinizing this contract, the author concludes this contract as a legal fact contains personal confidence element that is connected with the significance of the personality of the principal debtor for the future guarantor that preconditions the presumption of debtor's solvency. Accordingly, the author presumes that providing the guarantor who carried out his obligations with the rights of claim against other guarantors, who made separate contracts with the creditor, is not justifiable.