Guarantee During The Re-recognition And Reconstruction

The guaranty contract has compound additional condition and term. When a guaranty contract is signed, it does not come into force immediately. The condition is that the liability is not performed. In general guaranty, the creditor must accomplish the previous procedure at first, which includes the litigation or arbitration against the debtor and the forcible execution of the debtor's wealth that cannot fulfill the creditor's rights. The term is that it should be made during guaranty term to request the guarantor to implement the guaranty obligation. Only when both the condition and the term are satisfied, the creditor had the actual right to request the guarantor to implement the guaranty obligation and accept the guarantor's performance. So the guaranty term is the additional term of the guaranty contract. It is neither the time of exclusion nor the limitation of action. The difference of it from the normal additional term is that it has a beginning and an end, which makes it a closed period.The guaranty term is separated from the limitation of the action both of the main contract and the guaranty contract. The coming into effort of the guaranty term is connected with the creditor's request that should be made within the guaranty term but not with the limitation of action of the main contract. After the guaranty contract comes into force, it puts a beginning to the limitation of action of the guaranty contract, which should applies the normal limitation of action and have no direct connection with the guaranty term. During the guaranty term, if there is fortuitous accident or accidental force that make it impossible for the creditor to claim his guarantied interests, the guaranty term should be suspended. No other reasons can make the guaranty term suspended, discontinued or prolonged.It should be defined as the formality right for the creditor to claim guaranteed interests over the guarantor. Such a claiming, which should be made under the proper conditions and during the guaranty term, sets an actual legal relation between the creditor and the guarantor. It also divides the existent term of the guaranty contract into two parts. One is the term of the anticipatory right. The other is the term of the vested right. During the former term, the creditor have no right to ask the guarantee to perform the guaranty obligation and the guarantee need not fulfill what he...