Halsbury's Laws of Canada - Guarantee and Indemnity (2014 Reissue)

Publisher: LexisNexis Canada
Format::  Hardcover Book, 2
ISBN:: 9780433478317


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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:



Table of Contents

I. Introduction
1. Definition of the Term "Guarantee"
2. The Subject of Guarantees
3. Guarantees as Contractual Undertakings
II. Basic Principles
1. Guarantees and the Law of Contract
2. Creation of a Guarantee
3. Formalities of a Guarantee Contract
4. Interpretation of the Guarantee Contract
5. The Parol Evidence Rule
III. Assessing The Liability Of The Surety
1. Liability under a Guarantee
2. Liability under Surety Bonds
3. Non-Guarantee Indemnities
4. Liability under Near Guarantees
IV. Defences
1. Vitiating Factors
2. Discharge of a Guarantee
3. Other Defences to a Guarantee Action
4. Discharge of the Surety
5. Rescission and Repudiation
6. Faint Hope Defences
7. Contractual Waivers of Defence
V. The Rights Of A Surety
1. As Against the Creditor
2. Surety's Rights as Against the Principal
3. Rights of a Surety Against Co-Sureties
4. Waiver of Rights
VI. Procedural Issues
1. Summary Judgment
2. Res Judicata and the Binding Effect of Judgments As Against the Principal
3. Evidence of Amount Owing
4. Limitations
5. Guarantees Involving a Foreign Party
6. Enforcement of the Guarantee
7. Disclaimer of Contract in Bankruptcy or under CCAA
8. Want of Prosecution
9. Mitigation of Damages
10. Set Off


Kevin P. McGuinness, LL.B., LL.M., S.J.D.

Kevin P. McGuinness, LL.B., LL.M., S.J.D., is an Ontario lawyer of more than 30 years experience and is Counsel in the Crown Law Office of the Ontario Ministry of the Attorney General. He is the author or co-author of more than 30 legal texts, including The Law of Guarantee, Canadian Business Corporations Law , Canadian Civil Procedure Law and the Halsbury's Laws of Canada titles Business Corporations , Civil Procedure and Restitution

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