By Dr Poh Chu Chai
This new work traces all the significant development in the law of pledges, guarantees and letters of credit since the completion of the previous edition in August 1998 which includes the newly developed principle of unconscionability.
Developments of the law is presented first with a detailed overview of the law to date followed by in-depth study of the principles governing the area.
Like the previous edition, the author has once again adopted a clear and precise approach when commenting on the principles that have enunciated from these cases. Extracts of judgements are included to provide a more accurate understanding of the legal principles in the law of pledges, guarantees and letters of credit.
It serves as an authoritative text and tool for all in the field of banking.
- Takes into account the developments in the law since the previous edition in August 1998.
- Text strengthened by not only of new cases but also cases not previously dealt with.
- Highlights and discusses the recently enacted Contracts (Rights of Third Parties) Act (Cap 53B).
- Discusses recently developed principle of unconscionability as constituting a ground, apart from fraud, for restraining a beneficiary from calling for payment under a performance bond or guarantee.
- New developments in letters of credit on documents made by photocopiers and computers and the tortuous liability of persons who create documents for presentation under letters of credit.
Chapter 1 - Pledges
Chapter 2 - Life Assurance Policies as Security
Chapter 3 - Legal Nature of a Guarantee
Chapter 4 - Consideration for a Guarantee
Chapter 5 - Vitiating Factors in a Guarantee
Chapter 6 - Undue Influence
Chapter 7- Matters Affecting Guarantor's Interests
Chapter 8 - Joint and Several Guarantee
Chapter 9 - Some Common Terms in Guarantees
Chapter 10 - Enforcement of Guarantee
Chapter 11 - Guarantor and Creditor
Chapter 12 - Security Provided by Principal Debtor
Chapter 13 - Guarantor and Principal Debtor
Chapter 14 - Rights Between Guarantors
Chapter 15 - Performance Bonds
Chapter 16 - Letters of Credit
Chapter 17 - Buyer and Seller
Chapter 18 - Buyer and the Issuing Bank
Chapter 19 - Seller and the Intermediary Bank
Chapter 20 - Issuing and Intermediary Banks
Chapter 21 - Tender of Documents