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Section 176. The liability of the surety or sureties shall be joint - Insurance Code (usually included in commercial codals)

Section 176. The liability of the surety or sureties shall be joint of Insurance Code (usually included in commercial codals). Section 176. The liability of the surety or sureties shall be joint and several with the obligor and shall be limited to the amount of the bond.

  • Subjects 9 Bar syllabus groups
  • Codals 48 Primary legal sources

Insurance Code (usually included in commercial codals)

Section 176. The liability of the surety or sureties shall be joint and several with the obligor and shall be limited to the amount of the bond. It is determined strictly by the terms of the contract of suretyship in relation to the principal contract between the obligor and the obligee. (As amended by Presidential Decree No. 1455)

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