Podcast Location:
Download it here [file size: 21.5 MB]
Categories:
Corporate & Commercial Law
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to examine the key characterisitcs and principles that surround guarantees and indemnities. It looks at their relative advantages and disadvantages, problematic definitions and how they work in practice

Outcomes:
After completing the course you will:
  • Understand what a guarantee is;
  • Know the key characteristics of a guarantee;
  • Understand what is meant by a secondary obligation;
  • Know the amount of obligation a guarantee can cover;
  • Understand what a guarantee can relate to;
  • Know what is meant by an indemnity;
  • Appreciate how an indemnity is affected if the underlying transaction is set aside;
  • Appreciate the advantages of a guarantee over an indemnity and of an indemnity over a guarantee;
  • Know what happens to guarantee when you vary the underlying contract;
  • Know how you satisfy consideration in this context;
  • Know the corporate requirements of a guarantor;
  • Understand how insolvency affects a guarantee or an indemnity;
  • Appreciate the importance of CVAs in this context;
  • Know the issues surrounding personal matters;
  • Appreciate the issues surrounding duress and undue influence;
  • Know the different types of guarantee;
  • Know the main terms in a guarantee agreement.
Level:
Intermediate Difficulty: 3 of 5
Classification:
Introduction
Legal Principles
Practical Guide
Sources and References:
  • Companies Act 2006;
  • Devaynes v Noble (Clayton's Case) (1816) 1 Mer 572;
  • Statute of Frauds Act 1677;
  • Unfair Contract Terms Act 1977.
Tags:

In this podcast, Alex Campbell, a solicitor at Berwin Leighton Paisner, introduces the topic of guarantees and indemnities, looking at their key characteristics and principles that dictate their implementation.

Podcast added: 22/07/11

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