Characteristics of contract of guarantee, Business Law and Ethics

Characteristics of Contract of Guarantee

(a) There have be three parties: as the creditor, as the debtor and as like the surety or like guarantor.

(b) There have be as a primary liability where in some person other than the guarantor; like such the guarantor must subsist liable merely secondarily, such to pay whether the debtor does not be pay.
However the assumption of personal legal responsibility is not essential in as a guarantee. Further the provision of safety is enough: like Re Conley.

(c) The guarantor is completely unconnected about the contract except through means of his promise to such for discharge the debtor's liability whether he does not do like.

(d)Have to be evidenced through some note or like memorandum.

Posted Date: 2/2/2013 7:48:46 AM | Location : United States







Related Discussions:- Characteristics of contract of guarantee, Assignment Help, Ask Question on Characteristics of contract of guarantee, Get Answer, Expert's Help, Characteristics of contract of guarantee Discussions

Write discussion on Characteristics of contract of guarantee
Your posts are moderated
Related Questions
When is an employer vicariously liable? An employer is vicariously liable when: a. When Employer authorised. b. When unauthorised procedure utilized when executing an aut

How to explain the apparent lack of expressions There are several ways to explain the apparent lack of expressions of the impacts. In fact, there are arguments that political

Alteration of Capital: A company is empowered by S.63 to alter the provisions of its memorandum of association which relates to its registered or authorised capital. However,

Discuss about the three streams There come times, however, when these three streams are joined. An event in the political stream, such as a change in administration, calls for

Subrogation - Void Contracts       However in Re National Permanent Benefit Building Society would the court stated that where an infant obtains a loan for necessaries and real

Question 1: (a) Expliquez les conditions qui doivent être réunis pour la formation d'un contrat. (b) Expliquez les differentes modes selon lesquels un contrat peut prendre

QUESTION 1 With reference to the relevant articles of the Mauritian Civil Code, explain the principles of tort law QUESTION 2 An employer should ensure the well being of a

Intellectual property refers to creations of the mind like inventions, artistic and literary works, designs, and more used for profit. There are two categories of intellectual prop

Advantages of Arbitration (a) First is, Speed : It is a faster scheme of dispute resolution (b) Second is, Convenient : Parties are free for determine as; Th

QUESTION 1 The global business sector has been expanding rapidly in Mauritius. Discuss the role of the FSC in this sector QUESTION 2 Tony is the director of Xservices L