If the power of attorney is in written form, the power of attorney shall specify the agent's name, agency matters, authority and time limit, and shall be signed or sealed by the principal. If several persons are the same agent, they shall jointly exercise the agency right with others. If the agent knows or should know that the agency matters are illegal but still carries out the agency behavior, or if the principal knows or should know that the agent's agency behavior is illegal and does not raise any objection, the principal and the agent shall bear joint liability.
An agent shall not carry out a civil juristic act in the name of the principal and in his own name, except with the consent or ratification of the principal. If the actor has no power of agency, exceeds his power of agency or terminates his power of agency, he will still carry out the agency act, and it will have no effect on the principal without ratification by the principal. The other party may urge the principal to ratify the notice within 30 days from the date of receiving it. If the client fails to express it, it shall be deemed as refusal to ratify it. Before the act committed by the perpetrator is ratified, the bona fide counterpart has the right to revoke the act, and the revocation shall be made by notice. If the act committed by the actor is not ratified, the bona fide counterpart has the right to demand the actor to perform the debt or demand the actor to compensate for the damage he has suffered. However, the scope of compensation shall not exceed the benefits that the counterpart can obtain when the principal ratifies. If the counterpart knows or should know that the actor has no right to act as an agent, the counterpart and the actor shall bear the responsibility according to their respective faults.
"Several Opinions of the Supreme People's Court on People's Courts Handling Loan Cases" Article 16 After the guarantor's loan debt expires, if the debtor is solvent, the debtor shall bear the responsibility; If the debtor is unable to pay off, has insufficient solvency or the debtor's whereabouts are unknown, the guarantor shall be jointly and severally liable. If the debtor fails to repay the debt at the expiration of the loan period, and the borrower and the lender reach an agreement on the repayment period or interest rate again without the consent of the guarantor, the guarantor will no longer bear the guarantee responsibility.