Poorly drafted and ambiguous personal guarantees can give rise to guarantors being wrongfully released from liabilities, or alternatively documents being signed which are unenforceable and ultimately worthless.
The recent decision by the Supreme Court of New South Wales in the matter of Aquawest Pty Ltd v Twynham [2017] NSWSC 652 is yet another reminder of the court’s reluctance to enforce a personal guarantee where the drafting contains ambiguities.
This article will cover:
- The decision
- General requirements of a guarantee
- Top tips for obtaining and enforcing personal guarantees
Read the Full Article – CLICK HERE
ALSO READ: Important Lessons for Guarantors
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If you need assistance in drafting effective terms and conditions of trade and personal guarantees, please do not hesitate to contact the Results Legal team on 1300 757 534 or via email at info@resultslegal.com.au.
Results Legal specialises in Debt Recovery, Insolvency Law, Commercial Disputes, Commercial Contracts, and Business Separation & Shareholder Disputes.
