Lex Cameroon

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

SECTION 14

A surety-bond shall not be presumed no matter the nature of the secured debt. It shall be proved by a deed signed by the surety and the creditor. Mention shall also be made in the deed, in the surety’s handwriting, and in words and figures of the maximum secured amount covering the principal, interest and other accessories. In case of disparity the amount in words shall be deemed the secured sum. The surety who does not know or cannot write shall be assisted by two witnesses who shall attest in the deed to his identity and presence and to the fact that the nature and the effects of the deed were explained to him. The presence of attesting witnesses shall exempt the surety from complying with the formalities provided for in the preceding paragraph. The provisions in this article shall equally apply to surety-bonds required by the laws of each State Party or by a court decision.
Official translation Spot-checked In force from 15 December 2010 Source page 9

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Texte français

This provision has no official French version. You can read an unofficial machine translation — for understanding only, never to quote.

Contents

Section 14 of the Acte uniforme révisé portant organisation des sûretés /akn/ohada/act/loi/undated/aus-2010
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