English translation: whose assets are to be excussed
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11:40 May 25, 2003
French to English translations [PRO] Bus/Financial
French term or phrase:discuté dans ses biens
La caution n'est obligée envers le créancier à le payer qu'à défaut du débiteur, qui doit être préalablement discuté dans ses biens, à moins que la caution n'ait renoncé au bénéfice de discussion, ou à moins qu'elle ne se soit obligée solidairement avec le débiteur.
the remedy against whose assets must first be exhausted
The guarantor is under an obligation to pay the creditor only in the event of the default of the debtor, the remedy against whose assets must first be exhausted, unless the guarantor has waived its right to require the creditor to proceed first against the debtor's assets or unless it has entered into a joint and several obligation together with the debtor.
"I stand surety for his debt to you, but you grab all his assets first before you start grabbing mine ..."