Improving the ability of guarantors to make a real choice : lenders' practices in taking third party guarantees

McGill, Denise & Howell, Nicola (2013) Improving the ability of guarantors to make a real choice : lenders' practices in taking third party guarantees. Journal and Banking and Finance Law and Practice, 24(3), pp. 182-202.

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Abstract

This article considers recent cases on guarantees of business loans to identify the lending practices that led the court to set aside the guarantee as against the creditor on the basis that the creditor had engaged in unconscionable conduct. It also explores the role of industry codes of practice in preventing unconscionable conduct, including whether there is a correlation between commitment to an industry code and higher standards of lending practices; whether compliance with an industry code would have produced different outcomes in the cases considered; and whether lenders need to do more than comply with an industry code to ensure their practices are fair and reasonable.

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ID Code: 63283
Item Type: Journal Article
Refereed: Yes
DOI: Journal of Banking and Finance Law and Practice
ISSN: 1034-3040
Subjects: Australian and New Zealand Standard Research Classification > LAW AND LEGAL STUDIES (180000) > LAW (180100) > Commercial and Contract Law (180105)
Divisions: Current > QUT Faculties and Divisions > Faculty of Law
Current > Schools > School of Law
Current > Schools > School of Management
Copyright Owner: Copyright 2013 Lawbook Co.
Deposited On: 11 Oct 2013 01:21
Last Modified: 17 Oct 2013 12:26

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