The bank sought payment under a guarantee given by the appellant. The appellant said that the original loan agreement had been varied so as to release him. The loan had been taken out to support a business venture. After the guarantee was signed a further loan was made, and new agreements signed.
Held: The appeal was allowed: ‘the 1999 facility was substantially different from the original two loan agreements and even if it could be said to be, on one view, a variation or amendment of those original 1996 agreements, it is certainly not a variation or amendment within the purview of the 1996 agreements.’
Judges:
Lord Justice Chadwick, Lord Justice Longmore and Lord Justice Neuberger
Citations:
[2005] EWCA Civ 630, Times 30-May-2005
Links:
Jurisdiction:
England and Wales
Citing:
See Also – Dobbs v Triodos Bank Nv (No 1) CA 15-Apr-2005
The defendant a litigant in person sought to stay his appeal. He asked the court to stay his appeal so that he could get legal aid, and to encourage the LSC to grant legal aid.
Held: The court refused. The defendant asserted that courts would . .
See Also – Triodos Bank Nv v Dobbs and Another ChD 8-Feb-2005
. .
Cited – Melvin International SA v Poseidon Schiffahrt GmbH ComC 18-Jun-1999
ComC Guarantee – guarantor not exempted from liability ‘…by any variation in the terms of the …2 underlying charterparty – whether addenda to charterparty a ‘variation’ – the relevant legal principles – the . .
Cited – British Motor Trust Co Ltd v Hyams 1934
Mr Lord acquired two motor coaches under two hire-purchase agreements from the claimants and persuaded his mother-in-law to guarantee his obligations by a contract indorsed on the agreements in the following terms:- ‘We . . guarantee the due and . .
Cited – The Nefeli 1986
. .
Cited – Trade Indemnity Co Ltd v Workington Harbour and Dock Board HL 1937
The House held that a loan of andpound;45,000 made by a building owner to a building contractor did not constitute an agreement ‘for any alteration in or to’ the building contract which the company had guaranteed. The question was whether it was . .
Cited – Samuels Finance Group Plc v Beechmanor Ltd and others CA 1993
The court considered the situation where the contract supported by a guarantee had been varied.
Lloyd LJ said: ‘One can perhaps imagine changes falling short of a novation which would yet be so fundamental that they could not properly be . .
Lists of cited by and citing cases may be incomplete.
Banking
Updated: 30 June 2022; Ref: scu.225232