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Personal Guarantees

[Deleted User] · 2022-03-10 20:52:03

Are personal guarantees subject to the statute of limitations?

10-03-2022 8:52pm

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Are personal guarantees subject to the statute of limitations?

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#2 11-03-2022 12:43am

Peregrinus

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Yes. But how this plays out in practice depends on the precise wording of the guarantee. Often, no liability arises under a guarantee until a demand is made. In such a case, the limitation period in relation to liability under the guarantee doesn't begin to run until a demand has been made on the guarantor. So you can have a case where the principal debt has already become statute-barred (i.e. you can't recover from the debtor) but the guarantee remains enforceable (i.e. you can recover from the guarantor).

Post edited by Peregrinus on March 2022

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#3 11-03-2022 8:59pm

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https://www.boards.ie/discussion/comment/118766174#Comment_118766174

ok thank you

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