Supreme Court held that a timely notice of debt expiration under the Expiration Act releases the guarantor from liability.
Sintesi Legislator
Generato dall'IAThe Supreme Court ruled that a guarantor was released from liability after receiving a timely notice of debt expiration from the creditor. The creditor sent the required notification under Section 21(4) of the Expiration Act, which interrupts the statute of limitations for the guarantor. The court determined that this procedural step legally severed the guarantor's obligation, preventing the debt from expiring against them.
Regesto Legislator
Generato dall'IASection 21(4) of the Expiration Act; A timely notice of debt expiration sent to a guarantor by the creditor releases the guarantor from liability and interrupts the statute of limitations.
Parole chiave
Generato dall'IADisposizioni normative citate
Generato dall'IADecisioni correlate
Generato dall'IATesto completo
Kysymys siitä, oliko ulosottoviranomaisen velalliselle lähettämällä, velan vanhentumisesta annetun lain 21 §:n 4 momentissa tarkoitetulla ilmoituksella ajoissa katkaistu vanhentuminen ja takaaja vapautunut vastuusta.