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All monies guarantee not discharged by variation of pre-existing underlying contract (High Court)
Practical Law UK Legal Update Case Report 2-521-5891 (Approx. 3 pages)
All monies guarantee not discharged by variation of pre-existing underlying contract (High Court)
by PLC Finance
In National Merchant Buying Society Ltd v Bellamy and Another [2012] EWHC 2563 (Ch) the High Court held that an all monies, continuing guarantee given when there was a (subsequently varied) existing specific obligation between the creditor and the underlying obligor, would not be discharged by that subsequent variation.
NOTE: This judgment has been upheld by the Court of Appeal, see Legal update, All monies guarantee not discharged by variation of pre-existing underlying contract (Court of Appeal).
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Resource ID 2-521-5891© 2024 Thomson Reuters. All rights reserved.
Published on 27-Sep-2012
Resource Type Legal update: case report
Jurisdictions
Related Content- England
- Wales