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==Components of a [[guarantee]]== | ==Components of a [[guarantee]]== | ||
'' | There's a saying in legal circles: Little old ladies make bad law. | ||
In the history of the common law, more little old ladies than you'd expect have acted as [[guarantor]]s.The common law is therefore littered with well-meaning judgements applying (and, frankly, making up) idiosyncratic, counter-intuitive and at times plainly stupid rules of interpretation just to let stupid guarantors off the hook. This means it is a minefield for lawyers. But as any lawyer will tell you, in a minefield you find GOLD. So a guarantee is a place, like no other, where you need [[magic words]]. Some of those are explained below. | |||
===[[Continuing guarantee]]=== | |||
{{Continuing guarantee description}} <br /> | |||
===[[Demand guarantee]]=== | |||
{{Demand guarantee description}} <br /> | |||
===[[Indemnity]]=== | |||
{{indemnity description}} <br /> | |||
===Waiver of notices=== | |||
===See Also=== | ===See Also=== | ||
*{{isdaprov|Credit Support Document}} | *{{isdaprov|Credit Support Document}} | ||
*[[Guarantees of the ISDA]] | *[[Guarantees of the ISDA]] | ||