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Book 4 · Commercial transactions  ›  Division 1 · General provisions › Section 356

Section 356

(1) If a claim secured by pledge, suretyship or otherwise is included in the revolving account, then the creditor will not be hindered, by the creditor’s acknowledgement of the clearance of the account, from seeking satisfaction from the security to the extent that the credit balance due to the creditor from the revolving account and the claim correspond to each other.

(2) Where a third party is liable as joint and several debtor for a claim included in the revolving account, the provision of subsection (1) applies accordingly to the assertion of the claim against the third party.

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