Glossary entry (derived from question below)
German term or phrase:
zunächst im Wege der Zwangsvollstreckung
English translation:
first recourse
Added to glossary by
Olga Adler
Feb 17, 2015 21:06
9 yrs ago
4 viewers *
German term
United States
Technical Translator
Native in: Russian
Works in: English to Russian, Russian to English, Spanish to Russian, and 1 more.
zunächst im Wege der Zwangsvollstreckung
German to English
Bus/Financial
Law (general)
Can't figure out the meaning of 'zunächst im Wege der Zwangsvollstreckung' in the second part of the phrase.
Der Bürge kann die Befriedigung der Bank nicht unter Berufung darauf verweigern, dass die Bank zunächst im Wege der Zwangsvollstreckung gegen den Hauptschuldner vorzugehen hat
My clumsy translation:
The Guarantor cannot refuse to satisfy the Bank having regard to the fact that the Bank first took a forced action against the principal debtor.
It doesn't make much sense to me
Der Bürge kann die Befriedigung der Bank nicht unter Berufung darauf verweigern, dass die Bank zunächst im Wege der Zwangsvollstreckung gegen den Hauptschuldner vorzugehen hat
My clumsy translation:
The Guarantor cannot refuse to satisfy the Bank having regard to the fact that the Bank first took a forced action against the principal debtor.
It doesn't make much sense to me
Proposed translations
(English)
| 4 +3 | first recourse |
Lancashireman
|
| 4 | initially by way of enforcement |
Sebastian Witte
|
| 3 | initially by way of foreclosure |
gangels (X)
|
Change log
Feb 18, 2015 07:46: Steffen Walter changed "Field (specific)" from "Finance (general)" to "Law (general)"
Proposed translations
+3
33 mins
German term (edited):
zunächst
Selected
first recourse
The guarantor cannot refuse to honour his/her obligation to the bank on the grounds that the bank's first recourse should be to take enforcement action against the principal debtor.
http://www.investorwords.com/4284/right_of_recourse.html
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Note added at 3 hrs (2015-02-18 00:36:49 GMT)
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You can probably omit "to take enforcement action".
2.7 By entering into this agreement and by placing an Order with MJ Baker, you as Principal to this agreement are personally liable for non-payment of any debt or non-fulfilment of any obligation of the Customer (as Personal Guarantor), and MJ Baker reserves the right to take first recourse against you, unless otherwise agreed.
http://www.mjbakerorderonline.co.uk/page.asp?content_id=32
http://www.investorwords.com/4284/right_of_recourse.html
--------------------------------------------------
Note added at 3 hrs (2015-02-18 00:36:49 GMT)
--------------------------------------------------
You can probably omit "to take enforcement action".
2.7 By entering into this agreement and by placing an Order with MJ Baker, you as Principal to this agreement are personally liable for non-payment of any debt or non-fulfilment of any obligation of the Customer (as Personal Guarantor), and MJ Baker reserves the right to take first recourse against you, unless otherwise agreed.
http://www.mjbakerorderonline.co.uk/page.asp?content_id=32
Note from asker:
| Thank you! |
4 KudoZ points awarded for this answer.
Comment: "This was very-very helpful, thank you!"
10 mins
Sebastian Witte
Germany
Germany
Native in German
Specializes in field
Germany
Responsive with well-rounded knowledge
Native in: German (Variant: Germany) 
Works in: English to German, German to English, Spanish to German, and 5 more.
Related KudoZ points
:
46
initially by way of enforcement
Der Bürge kann die Befriedigung der Bank nicht unter Berufung darauf verweigern, dass die Bank zunächst im Wege der Zwangsvollstreckung gegen den Hauptschuldner vorzugehen hat.
The Guarantor may not refuse to satisfy the Bank's claims by making reference to the Bank initially being required to take steps/action by way of enforcement against the principal debtor.
The Guarantor may not refuse to satisfy the Bank's claims by making reference to the Bank initially being required to take steps/action by way of enforcement against the principal debtor.
Note from asker:
| Thank you so much for your help! |
1 day 18 hrs
initially by way of foreclosure
foreclosure is the operative word in the US, anyway
Note from asker:
| thank you! |
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