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Q. |
Under a contract of guaranty, may the benefit of excussion be waived? |
A. | Yes, a person may waive the benefit of excussion especially when the contract states that his liability shall be direct and immediate without any need to take steps to exhaust legal remedy |
B. | No, the benefit of excussion cannot be waived; it is expressly provided that the creditor must first exhaust all the properties of the debtor. The benefit of excussion serves to protect the guarantor from unscrupulous debtors |
C. | Yes, the benefit of excussion may be waived provided the person owning such benefit, has sufficient properties to cover the debt |
D. | No, it may not be waived by reason of public policy and commercial convenience |
Answer» A. Yes, a person may waive the benefit of excussion especially when the contract states that his liability shall be direct and immediate without any need to take steps to exhaust legal remedy |
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