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Author Question: Elizabeth gave a guarantee to the bank in support of a loan to Tomasz. Over the next few years, the ... (Read 73 times)

P68T

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on: Aug 7, 2021
Elizabeth gave a guarantee to the bank in support of a loan to Tomasz. Over the next few years, the bank and Tomasz made a number of alterations to the loan agreement. The effect of these changes was to significantly increase the amount owing to the bank. Elizabeth had no notice or knowledge of these changes, nor did she consent to any such changes. What is the likely result?
◦ A guarantee is executed under seal, therefore it will be presumed valid regardless of defect.
◦ Elizabeth will not be bound by the new terms and will also be released from the original obligations.
◦ Elizabeth is bound by the changes to the loan, because guarantees are, by their nature, continuing.
◦ Guarantees are a mere formality; only Tomasz has obligations to the bank.
◦ The failure to notify Elizabeth would release both Elizabeth and Tomasz from their obligations.
Legal Fundamentals for Canadian Business ¦ Yates ¦ 4th Edition
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Marked as best answer by P68T on Aug 7, 2021

enass

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Reply #1 on: Aug 7, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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P68T

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Reply 2 on: Aug 7, 2021
Gracias!

ricroger

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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