On The Distribution Of Responsibility In Joint Guarantee

Guarantee plays an important role in the contract.It can not only protect the order and secure of the market,but also solve the dispute.And helping to make deals,which is conductive to the economic gloom.In particular,joint guarantee is widely used in the creditor’s debt relationship because it can not only meet the debtor’s demand for financing,but also better guarantee the transaction safety of the creditor.However,there are not many laws concerning joint guarantee,differences exist in the understanding of some laws in practice,which leads to more and more disputes about the liability distribution of multiple joint and several guarantors.After the Civil Code of the People’s Republic of China and relevant interpretations were introduced,some original rules of guaranty application were changed,which made some previous views concerning joint and several guarantor’s liability have to be re-considered.For example,it is still necessary to further understand and analyze whether the creditor’s claim to one of the guarantors in joint guaranty binds other guarantors,and the relationship between the guaranty period and the limitation of action.This paper takes a financial contract loan dispute as an example,analyzing the two controversial focuses of the case in combination with similar cases in judicial practice: 1.Whether the creditor’s claim of rights to one of the joint guarantors will bind other guarantors.2.Whether the warranty period in joint and several joint warranties affects the limitation of action.What’s more,this paper discusses how to allocate their respective responsibilities among creditor,debtor and guarantor in joint guarantee,so as to realize the justice of law.This essay consists of four parts.Firstly,the introduction is talking about the reason why choosing this case,and what can we learn from this case;Secondly,the essay will take a briefly introduction about the case,including when did this happened between the creditor and debtor.And summarizing the bone of contention.Thirdly,after expressing my own views on the controversial issues,the essay will try to prove the justification of the views.Finally,at the end of the essay,the essay will summarize and speculate the problems,putting forward the proposals which is meaningful to the similar cases.