Practice question
The principal promised release from guaranty by a fixed date, which has expired. The guarantor has not paid and 2071 applies. Is prior payment always indispensable to the stated protective action?
- Yes; every protection requires prior full payment.
- Only the creditor may ever seek release.
- The promise’s date must always be ignored.
- No;2071 expressly permits the qualifying pre-payment remedy.
- The guarantor automatically owns the debt.
Legal references
- Civil Code Articles2052,2056-2057,2066,2071-2084 and2126-2130: https://lawphil.net/statutes/repacts/ra1949/ra_386_1949.html
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