Always remember that a guarantee creates a secondary obligation which only arises if the principal party fails to perform under the contract whereas an indemnity creates a primary contractual obligation.
In South Africa, security over financial instruments is typically established through a pledge, cession in security, or a combination of...
Directors often delegate certain functions and tasks to company employees or rely on the advice of experts. However, under South African...
In South Africa, banking and finance transactions often involve suretyships and guarantees. A guarantor's obligation depends on what the...