The Legal Responsibility of the Guarantor of Those Who Are Bound by the Commercial Paper in The Jordanian Law"

Abstract

The legal relationship between the reserve  guarantor and the secured person and the rest of the obligators  in the commercial paper may raise legal problems among them . This is evidenced by legal texts related to the effect of collateral  and the presentation of jurisprudential opinions on this subject and the available judicial rulings.

In this paper , an attempt is made to work out  a methodology for comparative legal research which goes beyond the functional method . the researcher aims at using the comparative method as an instrument of learning and knowledge . In addition ,  the researcher is contributing  to his own legal system : understanding it better , improving it , and using it as a means for interpreting the legal laws and legislations .

The researcher explained the legislative shortcomings that have characterized the provisions  of this relationship. He recommends that there is a need to review the drafting of some legal texts in a manner consistent with the legal problems that may arise from the relationship between the parties of  the collateral .

Key words: collateral , commercial paper , Jordanian legislator , guarantor , obligator, holder , drawer.

DOI: 10.7176/JLPG/83-14

Publication date: March 31^st 2019