What is the legal principle concerning the discharge of a surety from bank guarantees after their withdrawal from the commercial entity?
Legal Answer
Radiif AI Legal Assistant
⚡ Quick Answer:
A surety cannot be discharged from bank guarantees except by settling the guaranteed debt or by the creditor's release of the surety. This is because the guarantee is a right of the creditor, and neither the commercial entity nor the other partners have the authority to dispose of it without...
Legal References & Citations
Share this answer:
About Radiif
Radiif is an AI legal platform specialized in Saudi Arabian law, providing answers verified by legal references and articles.
This answer is for general legal education and is not legal advice. Please consult a licensed attorney for your specific case.
Page Stats
Do you have specific details about your case?
Ask Radiif AI Legal Assistant now and get verified answers with exact citations from Saudi law.
Do you want to consult a certified lawyer for this case?
We can suggest a list of certified lawyers with extensive expertise specifically in this domain.