Der Bürge verzichtet auf das Recht auf Einrede der Vorausklage
English translation: the surety waives the defense of failure to pursue remedies
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:
Der Bürge verzichtet auf das Recht auf Einrede der Vorausklage.
the surety waives the defense of failure to pursue remedies
Explanation: the defense of failure to pursue remedies.
This is straight out of my legal dictionary. Instead of surety you can also use guarantor
Kim Metzger Mexico Local time: 20:39 Works in field Native speaker of: English PRO pts in category: 1212
20 mins confidence: peer agreement (net): +1
Explanation: The bailsman (guarantor) waives the right to the benefit of discussion.
Romains translates "Einrede der Vorausklage" as 'benefit of discussion' and explains it as 'privilege of surety that the creditor should first proceed against the debtor and exhaust his remedy against him'.
The guarantor waives the right to raise the defense of failure
Explanation: to pursue remedies. The remedy in question is as follows:
Specifically, Section 771 BGB provides that the guarantor can refuse to pay off the creditor, provided that the creditor has not unsuccessfully undertaken an enforcement action against the principal debtor.
In this case, the guarantor is waiving his right TO REFUSE TO PAY OFF(satisfy)the creditor until such time as the creditor has undertaken enforcement action and failed. Deutsches Rechtlexikon Verlag Beck
Dr. Fred Thomson United States Local time: 19:39 Specializes in field Native speaker of: English PRO pts in category: 608