This is in an Acte de Cautionnement, so a deed of guarantee for a flat but I can't quite work out what this bit means. It is that the person signs as guarantor for someone else "wthout the benefit of discussion or dividend"?
It means that if the guarantor is called for paying in event of default, he will have to pay the sum entirely and immediately. He won't be able to ask the creditor to claim payment from the principal first (no discussion) and he will have to pay all by himself even if there are other guarantors (no division).
Now, how to say that concisely in English ? No idea !