Nazrin Natig Mammadova
Baku State University
LEGAL ANALYSIS OF VALIDITY OF A SURETYSHIP AGREEMENT
In order the contracts to be binding and engender legal consequences, firstly, they must be concluded in compliance with formal requirements set forth in the legislation. A suretyship agreement is also a contractual obligation. Taking into account its unilateral and gratuitous nature, the suretyship contract can result with onerous circumstances for the surety. That is why, validity conditions of the suretyship agreement pursue the aim to preserve legitimate interests and economic situation of the surety. The provision of them make the surety comprehend the seriousness of his engagement. This article illustrates the analysis of the essential terms of the suretyship agreement to be valid in comparison with foreign legal systems.
Key words: suretyship agreement, a security device, conditions of validity, existence of a main obligation, written form, spouse’s consent.
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