Sureties

Collapse
X
 
  • Time
  • Show
Clear All
new posts
  • Martinco
    Gold Member

    • Oct 2008
    • 927

    #1

    [Question] 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
    Supplier of Stainless Steel Band and Buckle and various fastening systems. Steel, Plastic, Galvanized, PET and Poly woven.
    We solve your fastening problems.
    www.straptite.com

    You may never know what results will come from your actions, but if you do nothing, there will be no results... Rudy Malan 05/03/2011
  • sterne.law@gmail.com
    Platinum Member

    • Oct 2009
    • 1332

    #2
    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.

    Comment

    Working...