CHAPTER 4 (Guarantee & Idemnity (circumstances when guarantor may…
Guarantee & Idemnity
type of guarantee
parties of guarantee
circumstances when guarantor may escape liability
Mistake as nature document signed (Carlisle vs Bragg)
Misrepresentation ( Mackenzie vs Royal Bank)
Bank fiduciary duty to guarantors who are customer of bank
investigation of title
creation of charges
valuation of the property
Executives & registration of charge.
Life insurance policy
Whole life policy
Types charge related
limitation of floating charge
Allow company to dispose of those assets.
Winding up may be invalid.
Asset may not belong to company
Stock & Share
Types of share
Bearer shares or securities
procedure taking share security
Customer transfer share under CDS to NPSA.
Margin loan up to 80%.
Bank or lender open NPSA
Borrower open CDS account
Customer accept credit line.
Good as security
It is a right of one party over the property of another until the later.
Some right or interest in property given to creditor
it is a form of possessory security