You will encounter warranties and indemnities in the vast majority of contracts you will be involved in, including for the purchase of your first home or car. The main objective of warranties and indemnities is to allocate rise between the parties, usually a vendor and purchaser. The vendor/seller will look to restrict the scope of … Read more
An indemnity is a contractual term which promises to reimburse another party in respect of a loss or damage. The only party indemnified is the one that is identified as the beneficiary of the indemnity. If the benefit of that indemnity is to be transferred to another party it must be done formally-for example with … Read more
Commercial borrowing and lending can be a trap for the unwary lender….and borrower. The issues that arise can lead to borrowers and lenders losing out on what they perceive to be a technicality. An individual borrower’s powers An individual can borrow what he pleases and the only issues surrounding this revolve around 3 questions 1. … Read more