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Another Look At The Giving Of Independent Advice To Sureties: Some Uncertainties And Evolving Concerns, Charles Chew
Another Look At The Giving Of Independent Advice To Sureties: Some Uncertainties And Evolving Concerns, Charles Chew
Faculty of Law - Papers (Archive)
It seems clear from the cases that independent advice can play a role where the lender or creditor attempts to argue that a guarantor or surety has entered into a guarantee in an act of free and independent will, and is aware of the nature and effect of such a security. The purpose of independent advice in this context is to ensure that the guarantor understands the nature and effect of the transaction and the documents to be signed. This article critically analyses the importance of the surety procuring independent advice before executing the contract of guarantee. It examines some …
The Scope And Limitations Of The Doctrine Of Misleading Or Deceptive Conduct In The Context Of Guarantees: Some Perspectives And Uncertainties, Charles Chew
Faculty of Law - Papers (Archive)
In this article, there is a critical analysis of the doctrine of misleading or deceptive conduct under s 52 of the Trade Practices Act 1974 (Cth) which is frequently relied upon for vitiation by guarantors or sureties who, as a result of such conduct on the part of the lender or credit provider, have given guarantees without adequate understanding or informed consent. It looks at how s 52 allows a party who is induced to enter into a contract of guarantee by misleading or deceptive conduct may be entitled to damages from the lender (the representor) in respect of any …