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A comparison between the primary and secondary nature of guarantees
Mini Dissertation
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2022
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| _version_ | 1867613592438702080 |
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| access_status_str | Open Access |
| author2 | Renke, Stefan |
| author_browse | Renke, Stefan |
| author_facet | Renke, Stefan |
| collection | Thesis |
| dc_rights_str_mv | © 2022 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Mini Dissertation |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/83583 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:38:35.948Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2022 |
| publishDateRange | 2022 |
| publishDateSort | 2022 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/83583 A comparison between the primary and secondary nature of guarantees Renke, Stefan mireille.lhartley@gmail.com Joubert, Mireille L UCTD Guarantees Mini Dissertation The use of guarantees as a form of security is a common instrument in the world of lending, construction and transfer of property and date back as far as BC. Although the concept has been around for many years, little progress has been made in developing legislation relating thereto. Contributing to this is the intricate manner in which some guarantee agreements are drafted and the common practice of referring to a guarantee as a suretyship and visa versa. This has been the root of confusion when it comes to the interpretation of the parties’ true intention. It might seem harmless to refer to a guarantee when suretyship is intended, however, it does hold severe consequences for the parties if their true intentions are not documented correctly. As will be discussed, the nature of a common law or primary guarantee, is autonomous whilst an agreement of suretyship is accessory in nature. The nature of a specific guarantee is key to the security it provides or obligation it creates. A common law guarantee is believed to provide a stronger form of security due to its primary nature compared to a suretyship agreement, being secondary in nature. The opposite can also be said, the obligation of a guarantor to perform in terms of a guarantee is more burdensome than the obligation of a surety in terms of a suretyship agreement. Cases such as Desert Rose, Shabangu and Lombard Insurance Company will show the important role that the primary and secondary nature of guarantees play when it comes to the enforcement of such agreement. This dissertation will therefore highlight the importance of knowing and understanding the nature of the agreement that is entered into as it may have some dire consequences at a later stage. NRF LLM (Private Law) LLM (Private Law) -- University of Pretoria Unrestricted 2022-02-02T06:58:01Z 2022-02-02T06:58:01Z 2022 2021 Mini Dissertation * A2022 http://hdl.handle.net/2263/83583 en © 2022 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Guarantees A comparison between the primary and secondary nature of guarantees |
| title | A comparison between the primary and secondary nature of guarantees |
| title_full | A comparison between the primary and secondary nature of guarantees |
| title_fullStr | A comparison between the primary and secondary nature of guarantees |
| title_full_unstemmed | A comparison between the primary and secondary nature of guarantees |
| title_short | A comparison between the primary and secondary nature of guarantees |
| title_sort | comparison between the primary and secondary nature of guarantees |
| topic | UCTD Guarantees |
| url | http://hdl.handle.net/2263/83583 |