Auckland Property, business and contract lawyers - UNDERSTANDING THE RISKS OF PROVIDING A GUARANTEE
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The risks of providing a guarantee

Providing a guarantee for someone else’s financial commitments can expose you to serious legal and financial risks. Before agreeing, ensure you understand the potential consequences - especially if you won’t directly benefit or lack full visibility and control over the obligation.
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Auckland Property, business and contract lawyers - What's hiding in the Terms of Trade? A Customer Perspective on GSAs
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What's hiding in the Terms of Trade? A Customer Perspective on GSAs

When entering relationships with new suppliers, it’s essential to carefully review the terms of trade, especially if they include a General Security Agreement (GSA). While a GSA can offer credit benefits, it also carries significant risks, potentially leading to receivership if payment issues arise. Understanding these terms is crucial to protecting your business.
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A Personal Guarantee needs to be properly and explicitly recorded to be valid and enforceable. A recent ruling needs PGs to be exact. Auckland dispute lawyer
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Brougham v Regan - The Requirements for a Valid Contract of Guarantee

On 30 October 2020 the Supreme Court delivered a landmark judgment in the context of contracts of guarantee in the case of Brougham v Regan [2020] NZSC 118. A summary of the key facts of the matter and important points in the Court's decision follow.
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