Limited or Conditional Liability

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Rohit Beerapalli
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Rohit Beerapalli
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Limited or Conditional Liability
  1. Hobson v. Bass
    1. A surety can attach any condition to his liability.
      1. Liability only arises if this condition is met.
    2. Traill v. Gibbons
      1. Whether the obtaining of a collateral security is a term of condition precedent is to be determined by a proper analysis of the contractual relationship.
      2. Ward v. National Bank of New Zealand Ltd
        1. When the sureties are severally liable, the creditor can release one of them, without releasing the others.
        2. Greer v. Kettle
          1. Guarantee was only for a debt which was secured by a charge on 275,000 shares.
            1. Since there was no such security, it was an attempt to impose a liability that was never undertaken.
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