Q. Under a contract of guaranty, may the benefit of excussion be waived? (Solved)

1. Yes, a person may waive the benefit of excussion especially when the contract states that his liability shall be direct and immediate without any need to take steps to exhaust legal remedy

2. No, the benefit of excussion cannot be waived; it is expressly provided that the creditor must first exhaust all the properties of the debtor. The benefit of excussion serves to protect the guarantor from unscrupulous debtors

3. Yes, the benefit of excussion may be waived provided the person owning such benefit, has sufficient properties to cover the debt

4. No, it may not be waived by reason of public policy and commercial convenience