Legal Question in Business Law in Nigeria
under what circumstances will a court of law discharge a guarantor who has entered into a deed of guarantee in respect of facilities?
Asked on 10/20/13, 6:05 pm
2 Answers from Attorneys
Fca Prashant Chavan
Expert Edge LLP
21.10.2013
Dear Sir / Madam,
A guarantor is discharged when the original borrower settles the entire facility availed from the bank with no outstanding dues remaining and closes the A/c.
Regards,
Answered on 10/21/13, 3:15 am
Israel Usman
Classfield Solicitors
A guarantor is also discharged if the terms of the loan or facility is amended without the consent of the guarantor
Answered on 11/04/13, 8:13 am
Related Questions & Answers
-
What is the procedure for merger/transfer of a business division/unit of a public... Asked 9/17/13, 6:13 am in Nigeria Business Law
-
Nigerian legal system and the survival of international business relating: problems... Asked 8/18/13, 8:52 pm in Nigeria Business Law
-
What are the recent cases on the discharge of contract in nigeria? Asked 7/23/13, 9:02 am in Nigeria Business Law
-
Every business person has legal responsibilty towards other persons,goods and... Asked 7/21/13, 8:34 am in Nigeria Business Law
-
Give a comprehensive explanation of offer and an invitation to treat Asked 7/03/13, 2:19 am in Nigeria Business Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
