The persistence of the guarantee in a company debt after a long period
Machine translationRead the Arabic original
The questioner:
I guaranteed a person in an installment company, and he has not paid to this day. Several years have passed, and the company has not demanded payment from any of us. Is my guarantee for that person’s debt a liability on me, or on you?
The Shaykh:
As long as you are the guarantor, you are the one being pursued. Unless
The questioner:
you allow them to lie to you.
The Shaykh:
The name of the company’s party. If you release the guarantee from you, there is no harm. But if you have not released the guarantee, it remains binding.
The questioner:
Even if the period is long. Until. It covers it.
The Shaykh:
Yes.
I guaranteed a person in an installment company, and he has not paid to this day. Several years have passed, and the company has not demanded payment from any of us. Is my guarantee for that person’s debt a liability on me, or on you?
The Shaykh:
As long as you are the guarantor, you are the one being pursued. Unless
The questioner:
you allow them to lie to you.
The Shaykh:
The name of the company’s party. If you release the guarantee from you, there is no harm. But if you have not released the guarantee, it remains binding.
The questioner:
Even if the period is long. Until. It covers it.
The Shaykh:
Yes.
Source
شرح زاد المستقنع [52] — alfawzan.live (1:11:16)
The Arabic text is a machine transcription of the audio recording.