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Guarantees are among the most common forms of security in use in commercial transactions, with vast sums of money are lent every year on the strength of guarantees. This title offers a detailed discussion of the law of guarantee, and also deals with similar forms of indemnity and related obligations. Topics covered in this essential reference include:
- Creation of a guarantee
- Separate legal persons
- Capacity of the parties
- Intention to enter into a guarantee
- Privity
- Consideration
- Guarantees as executory contracts
- Certainty of terms
- Illegality and public policy
- Offer and acceptance
- Execution
- Agency
- Subject to contract
- Discharge of a guarantee
- Appropriation of payments
- Fulfillment of purpose of guarantee
- Effect of rights of set off
- Accord and satisfaction
- Departure from the guarantee - the principle of strict adherence
- Bankruptcy of a surety
- Guarantees of proposals in a bankruptcy
- Compromise
- Consumer protection legislation
- Defence by counterclaim
- Discharge by dissolution of the creditor
- Surety's rights as against the principal
- Right to indemnification
- Indemnification of surety - commercial bonding
- Compromise of claim on the surety
- Procedural considerations
- Bankruptcy of principal
Features
- A general table of contents to the level of chapter headings
- A detailed table of contents to the level of clause headings
- Detailed sectional contents set out within the commentary for each chapter and section
References and abbreviations - an alphabetical listing of special references and abbreviations used in the volume, with an explanation of their meaning
Selected secondary sources - setting out selected texts, articles, and other secondary sources pertaining to the subject that the reader may find to be relevant and helpful
Glossary of definitions - identifying words and phrases defined in personal property security legislation, and providing the text of the definition in each jurisdiction for easy reference. A valuable quick reference in a field marked by a wide variety of statutes promulgated across many jurisdictions
Plus:
- Table of cases
- Table of statutes and statutory instruments
- List of related titles
- Index
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