Lex Cameroon

Acte uniforme révisé portant organisation des sûretés › Title 1 › Chapter 1

SECTION 30

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The surety shall notify the principal debtor or implicate him in the action instituted by the creditor before paying the debt to the said creditor. Where the surety settles the debt without giving notice to the principal debtor of the action against him or fails to implicate him in it, he shall forfeit his right of action against the said debtor who at the time of payment of the said debt or before it was contracted, had grounds for declaring the said debt bad or had paid the said debt in ignorance of the payment made by the said surety. Nevertheless, the surety shall retain a recovery action against the creditor. ARTICLE.31 The surety shall be subrogated to the rights and privileges of the pursuing creditor for every payment made to the latter. Where there are many principal debtors who are jointly liable for one and the same debt, one surety shall be subrogated to the rights of the creditor against each of the said debtors in respect of all the payments he made even where he stood surety for only one of the debtors. He shall separate his actions where the liability of the debtors is joint and several.
Official translation Transcription: Spot-checked In force from 16-05-2011 Source page 13

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Personal securities

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Texte français

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ARTICLE 30

Contents

Section 30 of the Acte uniforme révisé portant organisation des sûretés /akn/ohada/act/loi/2010-12-15/aus-2010
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