garanciálják

Garanciálják, also known as "guarantee" in English, is a legal term used in Hungarian law to describe a situation where a third party, known as the guarantor, assumes responsibility for the debt or obligation of another party, known as the principal debtor. This arrangement is typically used to enhance the credibility of the principal debtor in the eyes of creditors, thereby making it more likely that the creditor will extend credit or provide financial assistance.

The guarantor's liability is secondary to that of the principal debtor. This means that the creditor can only pursue the guarantor for payment if the principal debtor has failed to meet their obligations. The guarantor's responsibility is limited to the extent of the debt or obligation they have agreed to cover.

Garanciálják can be either personal or real. Personal guarantee involves the guarantor's personal assets, while real guarantee involves the guarantor's property. The terms of the guarantee, including the scope of the guarantor's liability and the conditions under which the creditor can pursue the guarantor, are typically outlined in a guarantee agreement.

This legal mechanism is commonly used in business transactions, such as loans, contracts, and leases, to provide additional security and reduce the risk for creditors. However, it also imposes obligations on the guarantor, who may be held personally liable for the principal debtor's debts. Therefore, it is important for all parties involved to carefully consider the terms and implications of a guarantee agreement before entering into such an arrangement.