Subjects:

Banking and Finance

Contents:

Introduction

Essentials of the Contract of Guarantee

Vitiating Factors

Form of the Contract of Guarantee

Construction

The Liability of the Guarantor

The Guarantor’

Rights against the Creditor

The Guarantor’

Rights against the Principal Debtor

Rights and Liabilities of Co-Guarantors Amongst Themselves

Limitation of Actions

Discharge of the Guarantee

Equitable Protection of Guarantors

Insolvency

Conflict of Laws

Landlord and Tenant

On-Demand Bonds and Similar Instruments

Appendix - Selected Statutes.

Navigating the law of guarantees is treacherous; the guarantee is subject to more litigation than any other financial instrument. In the wake of the credit crunch and much anticipated economic downturn, the use of, court proceedings on and need to understand guarantees is set to increase.

Salter’s magnum opus tackles this tricky and uncertain area and provides the definitive practical explanation of the law on guarantees. Salter’s approach gets to the core understanding of how the law can blend contract law principles with equitable doctrine, standard forms and statute.

This book provides a practical explanation of the law of guarantees in modern commercial practice. Analysis of other instruments such as performance bonds and standby letters of credit, as well as guarantees in their international context, is included. The book also provides guidance on the drafting of various types of instrument and the practice and procedure for enforcement by the English courts.

• Critically examines the effects of the most common standard form provisions which purport to extend or remove limits of creditors’ rights against the surety
• Discusses effect of insolvency on guarantees
• Analyses rise in judicial protection for surety
• Dissects wording of performance bonds
• Gives hints on drafting
• Analyses practice and procedure of courts in enforcing guarantees