Deficiency Guarantee
The deficiency guarantee (including indemnification guarantee ) is in the Austrian contract law a form of guarantee , beyond the guarantee and the liability as " guarantor and payer ."
The default guarantor undertakes in accordance with § 1356 ABGB for payment only in the event that the debt or remaining debt cannot be collected from the main debtor even through judicial execution ( e.g. through the realization of assets or seizure and transfer of claims), i.e. compulsorily. In the case of the ordinary guarantee, however, it is sufficient that the debtor fails to meet his payment obligation within a reasonable period of time following a reminder from the obligee.
In the case of liability for loans between married couples, the court has to declare on request with effect for the creditor on the occasion of a divorce that the spouse who is obliged to pay internally becomes the main debtor and the other is the default guarantor (Section 98 (1 ) (1) EheG ) . In this case, the limitation to a deficiency guarantee is not determined by a party agreement, but by a judge's verdict. The occurrence of the subsidiary liability of the default guarantor is specifically regulated in Section 98 (2) EheG.
Individual evidence
- ↑ cf. The guarantee: §§ 1346 ff ABGB online textbook on civil law, Chapter 15 A IV 4, Types of guarantee , accessed on November 17, 2019
- ↑ Section 98 EheG RIS , accessed on November 18, 2019
- ^ OGH decision GZ 2 Ob 78 / 11a of March 28, 2012
