Article 2053
RA 386 · Civil Code of the PhilippinesKey provision
ELI5— what this means for you
A guaranty may also be given as security for future debts, the amount of which is not yet known; there can be no claim against the guarantor until the debt is liquidated.
Official text — RA 386
A guaranty may also be given as security for future debts, the amount of which is not yet known; there can be no claim against the guarantor until the debt is liquidated. A conditional obligation may also be secured. (1825a)
Source: lawphil.net (RA 386 as amended)
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