What does a continuing guarantee clause in a standard form bank guarantee form means?
A) The guarantor will be liable for any future money lent by the bank to the principal debtor.
B) The guarantor will not be liable for repayment if she gives notice to that effect to the bank.
C) The common law rules respecting guarantees do not apply
D) Both A and C
E) Both B and C
Correct Answer:
Verified
Q1: Max Shell borrows money from a bank
Q2: A clause that states that a bank
Q3: Which of the following is a defence
Q4: Pierre Dupuis was the sole shareholder of
Q5: You are the account manager of a
Q7: Juanita Salazar signs a standard from bank
Q8: Which of the following is a negotiable
Q9: Grace Pack has a personal account at
Q10: The difference between a guarantee and an
Q11: Carol Crowe and Sheryl Stowe signed a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents