Legal Question in Banking Law in Australia

is a guarantor liable under a demand guarantee if the principle debt is time barred and no demand has been made on the guarantor? Can a demand be made subsequently?

Asked on 2/21/11, 9:43 pm

Steve White White SW Computer Law

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You need urgent legal advice but you may find the following helpful.

Q. Is a guarantor liable under a demand guarantee if the principle debt is time barred?

A. Maybe

Q. If no demand has been made on the guarantor?

A. A demand or acknowledgement of the debt or similar ordinarily needs to be made before a party can sue on the guarantee.

Q. Can a demand be made subsequently?

A. Maybe.

For legal advice contact www.computerlaw.com.au

Answered on 2/24/11, 1:58 am

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