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1. uk.practicallaw.thomsonreuters.com › 4/505/8791Guarantees: termination and discharge - Practical Law

   uk.practicallaw.thomsonreuters.com › 4/505/8791

   by Practical Law Finance. A practice note on the termination (revocation or cancellation) and discharge of guarantees. It also briefly considers circumstances in which a guarantee may be set aside (as a result of undue influence, misrepresentation, breach of contract or breach of duty to disclose).

2. www.lexisnexis.co.uk › legal › guidanceWhen can a guarantor voluntarily revoke its liability under a ...

   www.lexisnexis.co.uk › legal › guidance

   Oct 30, 2023 · The liability of a guarantor can be terminated in a number of different ways: • firstly, the guarantee can be discharged by performance of the guaranteed obligation by the principal obligor or performance of the guarantee by the guarantor (see Practice Note: Discharging guarantees by repayment or performance and clawback considerations) •

3. uk.practicallaw.thomsonreuters.com › w-010-9694Guarantees: termination and discharge - Practical Law

   uk.practicallaw.thomsonreuters.com › w-010-9694

   A note on the termination, revocation and discharge of guarantees. In particular, it examines when and how a guarantor may revoke its guarantee, the circumstances in which a guarantor will be released from its obligations, and the ways in which a beneficiary may protect its rights against the guarantor.

4. www.lexology.com › library › detailDischarge of a guarantee - Lexology

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   May 2, 2014 · The mere possibility of detriment to the guarantor is sufficient to result in the discharge of the guarantee. For this reason, as a rule of thumb, all variations to the principal contract should ...

5. uk.practicallaw.thomsonreuters.com › 6/107/6675Guarantee - Practical Law

   uk.practicallaw.thomsonreuters.com › 6/107/6675

   Guarantee. A contract under which a surety (the guarantor) promises to be responsible for the performance of an obligation owed by a principal obligor to a third party if the principal obligor fails to perform the obligation. The guarantor's liability under a guarantee is a secondary liability, as the guarantor is not liable unless and until ...

6. www.squirepattonboggs.com › - › mediaA Brief Introductory Guide to the English Law of Guarantees

   www.squirepattonboggs.com › - › media

   principles can make the guarantee unenforceable and of no real value. Although explaining those principles in detail is out of the scope of this article, by way of example, the guarantor under a see-to-it guarantee could be discharged from its obligations if a “material” amendment is made to the

7. People also ask

   Can a guarantor be discharged?

   • For this reason, as a rule of thumb, all variations to the principal contract should be regarded as material. A guarantor may be discharged if the lender and the borrower enter into a binding agreement to extend the time for performance by the borrower of its obligations under the principal contract.

   Discharge of a guarantee - Lexology

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   When will a guarantee be discharged?

   • A guarantee will be discharged if there has been any substantial variation in the terms of the lease without the consent of the guarantor. Therefore, consent in writing should always be obtained. This principle does not apply to an indemnity since this is a primary liability.

   Indemnities and guarantees - Pinsent Masons

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   What is a guarantor's liability under a guarantee?

   • The guarantor's liability under a guarantee is a secondary liability, as the guarantor is not liable unless and until the principal obligor fails to perform its own obligation to the third party (the primary liability).

   Guarantee - Practical Law

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   What is a guarantor contract?

   • A contract under which a surety (the guarantor) promises to be responsible for the performance of an obligation owed by a principal obligor to a third party if the principal obligor fails to perform the obligation.

   Guarantee - Practical Law

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   Is a guarantee a contract of guarantee?

   • ations are largely based on general English law principles. It is important to note that gene With an “Indemnity” (Such as “a Demand Guarantee”)As indicated above, sometimes, in the eyes of the law, it may be that a particular instrument, albeit named as a guarantee, is not a true contract of guarantee but a contr

   A Brief Introductory Guide to the English Law of Guarantees

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   Is a guarantee enforceable?

   • There are two types of guarantee, which are generally referred to as see-to-it guarantees or pure guarantees and conditional payment guarantees. A guarantee is not enforceable unless it, or a memorandum or note of it, is in writing and signed by the guarantor or at the guarantor's direction (section 4, Statute of Frauds (of 1677)).

   Guarantee - Practical Law

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8. www.pinsentmasons.com › indemnities-and-guaranteesIndemnities and guarantees - Pinsent Masons

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   Dec 19, 2011 · If a landlord allows a tenant to pay rent late without obtaining written and signed consent from the guarantor, this may be seen as 'giving time' to the tenant which may operate to discharge the guarantee (although the position may be different if the lease states that the guarantee will not be affected by any time given by the landlord to the tenant to make payments).