KKO 1480/1995
AI generated
Supreme Court held that a guarantor's security is time-limited unless explicitly extended by the creditor.
Legislator summary
AI generatedThe Supreme Court ruled that a guarantor's security obligation is automatically time-limited unless the creditor explicitly extends it. The guarantor argued the security was perpetual, while the creditor claimed no extension was necessary. The court decided that without a specific extension agreement, the security expires after the main debt's limitation period.
Legislator headnote
AI generatedSection 10 of the Security Act 1995; Section 10 of the Security Act 1995 establishes that a guarantor's security is time-limited and expires unless the creditor explicitly extends it.
Keywords
AI generated
guarantor security
time limitation
creditor extension
Security Act 1995
statutory limitation
guarantee validity
automatic expiration
Cited Legislation
AI generatedSection 10 of the Security Act 1995
Cited Case Law
AI generatedKKO 94/462
Related Decisions
AI generatedkko-other_1995_1482
Supreme Court held that a guarantor's security is time-limited unless explicitly stated otherwise in the contract.
kko-precedent_1989_102
Supreme Court dismisses guarantor's claim as debt matured in bankruptcy despite prior invalid demand.
kko-other_1997_530
Supreme Court held that a surety's liability remains unchanged even if the creditor's claim against the co-surety is time-barred.
kko-precedent_1997_4
Guarantee not time-barred when payment plan does not affect debt maturity under guarantee act section 4.
kko-precedent_1997_124
Supreme Court allows guarantor liability for full debt amount when debt maturity date was disputed and not yet fixed at guarantee signing.
Full text
Kysymys siitä, oliko omavelkainen takaus määräaikainen. Ks. myös S 94/462