Failure by one guarantor to sign a guarantee meant it was unenforceable against all
Despite extensive protective language, because one individual failed to sign a guarantee properly, it was void against the other individuals who did sign.
The guarantee language did not explicitly refer to an executing party being bound even if another party who was supposed to execute the guarantee but did not and consequently, the guarantee could not be relied upon.
Mr Harvey and three other individuals guaranteed the obligations of a company to its bank, Dunbar Asset Plc by entering into a personal guarantee…
If you are registered and logged in to the site, click on the link below to read the rest of the Taylor Wessing briefing. If not, please register or sign in with your details below.
News from Taylor Wessing
News from The Lawyer
Briefings from Taylor Wessing
The VAT pilot programme (initially launched in Shanghai on 1 January 2012) provides for VAT exemption for certain qualified cross-border services that are rendered by a service provider in China to an overseas service recipient.
In this briefing, Taylor Wessing looks at the termination process for senior executives in various countries.
Analysis from The Lawyer
The city-state is working hard to become a global wealth management hub, and law firms are gearing up for a prosperous new world
Financial disputes are starting to dominate the English courts as the long-awaited fallout from the downturn finally comes to town