Are you a guarantor or chasing one? Is your money on the line?
A guarantee is where an individual agrees to be responsible for either their company’s – or another company’s – debt.
The guarantor is the person who makes a guarantee to becomes contractually obligated to pay the debt if the borrower defaults.
Guarantee disputes can be contentious and often frustrating to enforce.
A guarantee has the potential to be set aside on several grounds including:
- Undue influence
- Failure to understand the essential elements of the guarantee.
Due to the complex and varied nature of guarantee disputes we recommend you consult a legal professional.
Whether you are chasing money from a guarantor or you are a guarantor and are unsure of your legal obligations, Clifford Gouldson provides robust and timely legal advice.
If you would like tailored, expert legal advice regarding guarantee disputes, contact a member of our Litigation and Dispute Resolution team.