A building or engineering contract may provide that a contractor should give sureties for the due performance of his obligations under the contract, and where a contractor does undertake to give sureties it is a question of construction whether the provision of sureties is a condition of the contract1. Occasionally the employer will undertake to provide sureties to guarantee payment to the contractor2.
The general principles governing the validity and enforcement of contracts of guarantee, the release of the sureties and the general obligations of the parties apply where a contract of guarantee is collateral to a building contract
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What is a third party debt order (TPDO)?Third party debt orders were previously known as 'garnishee' orders and operated under the regime provided for in CCR Ord 30 and RSC Ord 49 (now revoked). Although the rules in CPR 72 are new, many of the principles with which they are concerned are well
This Practice Note considers the meaning and use of conditions precedent in commercial arrangements. It also considers typical conditions precedent and drafting issues.What are conditions precedent?A condition precedent in a commercial contract details an event which must take place before:•a
On the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a lease, but this is rare in practice.
Express and implied contractual terms distinguishedContractual terms may be either express or implied:•express terms—are terms which are actually recorded in a written contract or openly expressed in an oral contract at the time the contract is made (or there may be a combination of written and oral
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