首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
A guarantee is defined in the Statute of Frauds 1677 as "a written promise made by one person to be collaterally answerable for
A guarantee is defined in the Statute of Frauds 1677 as "a written promise made by one person to be collaterally answerable for
admin
2013-12-25
58
问题
A guarantee is defined in the Statute of Frauds 1677 as "a written promise made by one person to be collaterally answerable for the debt, default, or miscarriage of another".
There are therefore three parties involved in the guarantee situation, although only two are in a contractual relationship arising out of the guarantee document, the creditor and the guarantor. The party who is owed the money, or whose rights are protected, is known as the creditor and the person owing him the money, or who is under an obligation to him, is called the principal debtor. The guarantor, or surety as he is sometimes called, therefore assumes a secondary liability and in effect says to the creditor; "if the principal debtor does not meet his liabilities to you, then I will".
There are similarities between a contract of guarantee and a contract of indemnity, but the difference is that an indemnifier assumes primary responsibility himself and in effect he says to the creditor "I will see that you are paid". The distinction is important, for whereas a guarantee to be enforceable must be evidenced in writing according to the Statute of Frauds 1677 , this is not the case with an indemnity and an indemnity given orally would be enforceable, although understandably it might be difficult to prove to a court that such a contract had been entered into.
In point of fact, nearly all bank guarantee forms are drafted in such a way that not only do they constitute a contract of guarantee, but they are also an indemnity. The advantage of this is that it gives the bank rights against the party signing, even though the bank might find itself with no fights which it could exercise against the principal debtor, for in such circumstances a contract of guarantee alone would be unenforceable. In other words, enforcement is not dependent on the efficacy of the Contract between the creditor and the principal debtor.
Guarantees may be executed by hand or under seal, but if by hand they must be supported by consideration. The consideration usually given by a bank is of course the loan of money to the principal debtor, or the agreement to continue to allow borrowing facilities for a further period of time.
The word "consideration" in Paragraph 4 refers to "______".
选项
A、costs derived from carrying out a contract
B、liabilities incurred at the time a contract is made
C、risk incurred at the time a contract is executed
D、money or items of value transferred at the time a contract is made
答案
D
解析
consideration体谅,考虑。在文中的意思是“对价”,即合同签订时合同一方向另一方所支付的价值。
转载请注明原文地址:https://kaotiyun.com/show/M9id777K
本试题收录于:
FECT综合(现代金融业务)题库金融英语(FECT)分类
0
FECT综合(现代金融业务)
金融英语(FECT)
相关试题推荐
Ifounditimportant______Englishwell.
Intheworld,soccerorfootballisthemostpopularsport.ThisisbecausemanycountrieshavewonderfulteamsformeWorldCup
"Whereismeuniversity?"isaquestionmanyvisitorstoCambridgeask,butnoonecangivememaclearanswerforthereisnow
MysisterandIlookedforwardtonewclothesfortheNewYear.Butonedaymymothersaid,"Listen,children.Wedon’thaveeno
A、Agoodjob.B、Iknow.C、20dollars.C
A、Thesupermarketisnearhere.B、Youcangoanotherday.C、Youcanasksomebodyforhelp.C
Themother______tothechildren:Becareful!Yoursisterissleeping.
Inbusinesschargesdepreciationinaccounts,theaccountingconcepttobeconsideredisthematerialityconcept.
Bancassurancereferstothesaleofinsuranceproductsthroughbankdistribution.
Thelimitonthedepositinsurancecoveragealsoservestomaximizemoralhazardonthepartofthedepositors.
随机试题
按摩师应引导、帮助宾客填写好()。
矩阵组织结构
溶血性黄疸时,尿胆原呈
()不属于财务顾问为收购公司提供的服务。
关于预约定价安排的管理和监控,下列说法正确的是()。
银行为避免借款企业无力还本付息可能造成的危害,除了在发放贷款时,通过认真征信、预测和分析以规避风险外,另一种有效途径就是()。
教学活动的多种形态有()
教师与学生之间的教育法律关系属于()
在韦纳的归因理论中,属于内部的稳定的因素是()。
OneofthemostimportantperiodsinGreekhistorywastheHellenisticAgewhichbeganafterthedeathofAlexandertheGreatin
最新回复
(
0
)