Article 2066
ELI5— what this means for you
The guarantor who pays for a debtor must be indemnified by the latter.
Official text — RA 386
The guarantor who pays for a debtor must be indemnified by the latter.
The indemnity comprises:
(1) The total amount of the debt;
(2) The legal interests thereon from the time the payment was made known to the debtor, even though it did not earn interest for the creditor;
(3) The expenses incurred by the guarantor after having notified the debtor that payment had been demanded of him;
(4) Damages, if they are due. (1838a)
Source: lawphil.net (RA 386 as amended)
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