A guarantee agreement is an important instrument used by credit providers to limit the risk of lending. It is therefore important to determine whether a bonding agreement is a credit contract within the meaning of the National Credit Act. Whether the guarantee agreements fall within the scope of the NCA depends on whether or not the main agreement is regulated by the AAFC. Since the bond contract must be on the same purpose as the principal obligation, it cannot be in its amount, time, place of execution, place of execution, or place of execution, to a greater extent or a greater burden than that main obligation; And if it exceeds in this way, it will be non-aeig, as if to such a surplus. But the commitment of the guarantee may be less burdensome, both in its amount and in time, in the place and mode of its execution, that of the principal debtor; it may be for a lower amount, or the time may be longer. When a guarantee is subject to the breach or delay of the principal debtor, this guarantee is incidental and is therefore considered a guarantee. The guarantee must be an absolute and unconditional promise to be considered a guarantee in the proper sense of the word. It is important to note that under the Marital Property Act, 88 of 1984, a married spouse in the property community cannot enter into collateral without the written consent of the other spouse. If a married person in a community of ownership signs a guarantee without the written consent of his or her spouse, the guarantee is, in most cases, invalid and unenforceable, unless such a guarantee is made in the context of a profession, profession or normal transaction. One of the circumstances that require an interpretation of the intentions of the parties under Turkish law is whether a security relationship between the parties is a guarantee contract or a guarantee agreement. This issue has long been debated in education and in the Court`s judgments.
Another difference between these two agreements is the exceptions and objections that arise from the main agreement. In a guarantee agreement, the guarantee may exercise the principal debtor`s exceptions and objections to the creditor, while the surety of a guarantee agreement cannot exercise the principal debtor`s exceptions and objections to the principal creditor. Most prudent creditors require their debtors to provide a guarantee, someone who is bound as a co-debtor if the debtor does not meet his obligations under the agreement. A guarantee is an incidental contract by which a person is responsible for another person`s debts or financial obligations. For example, when a student borrows a student, the bank requires parents who sign as a surety for the repayment of the student loan, or when a private company asks for a loan, one or more directors usually sign as a payment guarantee if the company does not pay. Two other contracts were entered into between L and M after the expiry of the lease agreement to which the Astill guarantee was attached, and the two leases had a new guarantee, A having resigned from his position as tenant shortly before the expiry of the lease agreement to which his warranty was attached. L attempted to make Astill liable for rents and related costs that were not paid by Mr. Tenant. The bonding contract is lightened and expires: for most guarantee agreements, the guarantee contract is bound as a surety and co-debtor.