beneficios de excusión, división y orden

English translation: benefits of excussion, division and order

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
Spanish term or phrase:beneficios de excusión, división y orden
English translation:benefits of excussion, division and order
Entered by: Martin Boyd

13:55 Jul 28, 2007
Spanish to English translations [PRO]
Law/Patents - Law: Contract(s) / Between Lender and Borrower
Spanish term or phrase: beneficios de excusión, división y orden
Under "Furnishing of and Objective of the (Joint and Several) Guarantee"

"Los Garantes entienden y asumen que los **beneficios de excusión, división y orden,** o cualesquiera otroas derechos, facultades o excepciones, que tienden a impedir o demorar el pago a las Entidades Acreditantes de las Obligaciones Garantizadas no son de aplicación a la presente fianza solidaria, renunciando en todo caso a dichos **beneficios de excusión, divisió y orden** y cualesquiera otros derechos, facultades o excepciones que pudieran corresponderles."

Muchísimas Gracias!

femme
Barbara Cochran, MFA
United States
Local time: 09:20
benefits of excussion, division and order
Explanation:
Looks almost too obvious, but "excussion" is a legal term used in contracts in English.
Selected response from:

Martin Boyd
Canada
Local time: 09:20
Grading comment
Muchas gracias!
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +1benefits of discussion, division and order
Henry Hinds
5(see option below)
Rebecca Jowers
4 +1excussion, division and order benefits...
MikeGarcia
4 +1benefits of excussion, division and order
Martin Boyd
4Proceeds of exemption (from tax), partition and bills (receivable)
esing


  

Answers


4 mins   confidence: Answerer confidence 5/5 peer agreement (net): +1
benficios de excusión, división y orden
benefits of discussion, division and order


Explanation:
Ya

Henry Hinds
United States
Local time: 07:20
Specializes in field
Native speaker of: Native in EnglishEnglish, Native in SpanishSpanish
PRO pts in category: 2331

Peer comments on this answer (and responses from the answerer)
agree  Sheilann
2 hrs
  -> Gracias, Sheila.
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22 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
Proceeds of exemption (from tax), partition and bills (receivable)


Explanation:
Hope this to be the meaning.

esing
India
Local time: 18:50
Specializes in field
Native speaker of: Native in TamilTamil
PRO pts in category: 38
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24 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
benefits of excussion, division and order


Explanation:
Looks almost too obvious, but "excussion" is a legal term used in contracts in English.

Example sentence(s):
  • "The SURETY hereby renounces the benefits of excussion, division..

    Reference: http://www.propertylawyer.co.za/downloads/DoSST.doc
    Reference: http://www.comztek.com/gocisco/Include/ComztekDealerApplicat...
Martin Boyd
Canada
Local time: 09:20
Native speaker of: Native in EnglishEnglish
PRO pts in category: 8
Grading comment
Muchas gracias!

Peer comments on this answer (and responses from the answerer)
agree  Sinead --: Yes, it means seizure by law according to MW
4 hrs
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29 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
excussion, division and order benefits...


Explanation:
Excussion being the right of a guarantor to force a creditor to make use of legal remedies of seizure and attachment against the principal debtor before enforcing. See the AVH Legal, pages 616 and 742.

MikeGarcia
Spain
Local time: 15:20
Specializes in field
Native speaker of: Native in SpanishSpanish
PRO pts in category: 389

Peer comments on this answer (and responses from the answerer)
agree  Margarita Ezquerra (Smart Translators, S.L.): Diste en el clavo... querido...
21 hrs
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4 hrs   confidence: Answerer confidence 5/5
(see option below)


Explanation:
Although "benefit of discussion/excussion, division and order" is a standard rendering, I am not sure that these civil law concepts are readily understood in common law jurisdictions. Therefore I have always preferred to define these concepts whenever I have had to translate them:

guarantor’s right to compel the creditor to sue the principal first (discusión), to be liable only for his proportionate share of the debt (división) and to have all remedies first exhausted against the principal before resorting to the surety (orden)

Thus your translation might read:

“Guarantors understand and agree that their rights to compel the creditors to sue the principal first, to be liable only for their proportionate share of the debt and to have all remedies first exhausted against the principal, or any other rights, powers or exceptions that may prevent or delay payment of the guaranteed obligations to the credit institutions do not apply to this joint and several guarantee, and do hereby waive the aforesaid rights and any other rights, powers or exceptions to which they may be entitled.”




Rebecca Jowers
Spain
Local time: 15:20
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 782
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