In the middle of the twenth century, the autonomous guarantee was born, due to the growing of the international trade. A guarantee which is safest, stronger and more efficient than any other. Along with autonomous guarantee, arise the on first demand clause, the peak of lender’s security. There are no doubts that the autonomous guarantee is a personal guarantee of obligations. However, it does not have legal provision. This review that we have set ourselves will have the mission to revisit the autonomous guarantee, in particular, the autonomous guarantee on first demand. Therefore, we will expose the relationships which emerge from this figure, explaining their characteristics. In any event, the focus of our work will be the legal nature of the guarantor’s obligation. First of all, we will try to rebuilt the obligation and then we will try to uncover the genesis of the obligation.
|Date of Award||8 Sept 2020|
- Universidade Católica Portuguesa
|Supervisor||Agostinho Guedes (Supervisor)|
- Autonomous guarantee on first demand
- Guarantor’s obligation