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Thread: Sureties

  1. #1
    Gold Member Martinco's Avatar
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    Sureties

    Husband and wife is married in COP.

    Without the husbands knowledge the wife goes and signs a surety for her sister and the repayments go sour.

    a) Is the surety document legally binding ? ( Only the wife's signature )
    b) Can the husband and wife be held responsible for the outstanding amount ?
    Martin Coetzee
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  2. #2
    Platinum Member sterne.law@gmail.com's Avatar
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    Its a yes and no.
    The husband is bound but the institution needed to check capacity and authority to sign. Often done by a clause saying you say you have authority (not always a successful argument.)
    Anthony Sterne

    www.acumenholdings.co.za
    DISCLAIMER The above is merely a comment in discussion form and an open public arena. It does not constitute a legal opinion or professional advice in any manner or form.

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