Guarantee
Regulatory Ref. art.1936 et seq. of the Italian Civil Code.
It is the agreement by which the personal guarantee of a third party is established in favour of the creditor. The third party is the guarantor that, personally binding itself in favour of the creditor, guarantees the fulfilment of the obligation of others (i.e. the debtor). The Italian Civil Code regulates two types of sureties, one joint and several, envisaged as normal, and one with the right of enforcement, for which an express provision of the parties is necessary, since it entails the loss for the creditor of the freedom to choose whether to demand the fulfilment from the debtor or directly from the guarantor.