51. Consensual contract (Art. 1315). Form (Art. 1403 (2-b), Art. 2055; Jao v.

Royal Financing Corporation, G.R. No. L - 16716, April 28, 1962)

52. Gratuitous or onerous (Art. 2048). Accommodation party or for a fee.
53. Guarantor’s liability (Art. 2054). Limited or indefinite. (Art. 2055;
Republic v. Pal – Fox Lumber, G.R. No. L – 26473, February 29, 1972;
Security Bank v. Cuenca, G.R. No. 138544, October 3, 2000)
54. Is consent or acceptance of a creditor necessary in a contract of
guaranty or surety. (Arts. 1236, 1237, 1311, & 2050)
55. Sub – guarantor (Art. 2064 & 2075)
56. Co – guarantor (Arts. 2065, 2073, 2074, & 2078)
57. Benefit of excussion, applicable only to guaranty not surety. (Arts. 2058,
2059 (2), 2060, 2061, 2062; Aglibot v. Santia, G.R. No. 185945,
December 5, 2012; Baylon v. Court of Appeals, G.R. No. 109941, August
17, 1999; Bitanga v. Pyramid Construction, G.R. No. 173526, August 28,
2008)
58. Waiver of the benefit of excussion (Arts. 2068 & 2070; J N Development
v. Philippine Export and Foreign Loan Guarantee, G.R. No. 151060,
August 31, 2005)
59. Indemnity/ subrogation is applicable to guaranty and surety (Arts. 1303,
2066, 2067; Escaño v. Ortigas, G.R. No. 151953, June 29, 2007)
60. Guarantor can proceed against debtor (Art. 2071; Cosmopolitan
Insurance v. Reyes, G.R. No. L – 20199, November 23, 1965; Manila
Surety v. Almeda, G.R. No. L – 27249, July 31, 1970)
61. Defenses of guarantor (Arts. 2062, 2081)
62. Extinguishment. (Arts. 2063, 2076, 2077, 2078, 2079, & 2080; Estate of
Hemady v. Luzon Surety, G.R. No. L – 8437, November 28, 1956; Pacific
Tobacco v. Lorenzana, G.R. No. L – 8086, October 31, 1957; National
Shipyards v. Torrento, G.R. No. L – 21109, June 26, 1967; Philippine
National Bank v. Court of Appeals, G.R. No. L- 30937, January 21, 1987;
Radio Corporation v. Roa, G.R. No. 42829, September 30, 1935; Palmares
v. Court of Appeals, G.R. No. 126490, March 31, 1998; Philippine
National Bank v. Manila Surety, G.R. No. L – 20567, July 30, 1965)