Flashcards
Cautionary Obligations Cases
Cards in this deck (14)
- 1Debtor's misrepresentation or undue influence does not affect the validity of the cautionary obligation unless creditor is aware of the misrepresentationYoung v Clydesdale bank
- 2All co-cautioners or none are boundScottish Provincial Insurance v Pringle
- 3Duty of good faith is met if independent legal advice is soughtForsyth v Bank of Scotland
- 4Creditor does not need to disclose material facts but if chooses to then disclose fullyYoung v Clydesdale Bank
- 5Creditor has to disclose if aware that the cautioner is under a misrepresentationRBS v Greenfields
- 6Can get relief from co-cautioners if excluding insolventsBuchanan v Main
- 7Guaranteeing specific fundsVeitch v National Bank of Scotland
- 8Misrepresentation by debtorSmith v Bank of Scotland
- 9Obligation is dependent on debt existingAitken’s Trs v Bank of Scotland
- 10First money in is set off against first debtClayton’s case
- 11Not pressing for immediate payment is not giving timeHamilton’s Exrs v Bank of Scotland
- 12If fixed limit and debtor gets more money, cautioner is still not releasedHuewind v Clydesdale Bank
- 13Invalid security does not make an invalid obligationBank of Ireland v Morton
- 14Guarantee enforced 14 years after cautioner’s deathBritish Linen Co v Monteith
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- Commerical Flashcards on Cautionary Obligations Cases, created by katy_mcbride12 on 30/04/2013.
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