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The Modern Contract of Guarantee provides readers with a detailed reference work on the law of guarantees. It provides practical insights into areas such as the validity and construction of guarantees, how to avoid a guarantee being discharged and common difficulties with enforcement. It also contains drafting guidance and a useful comparative discussion of developments in England and Commonwealth countries. Key features: Provides a practical guide to the law of guarantees in modern commercial practice Covers all aspects of the contract of guarantee, from formation to discharge of liability, and the rights of the parties Gives guidance on drafting contracts of guarantee Examines the meaning of common provisions of a guarantee agreement, with detailed reference to case law Discusses factors affecting the validity of the guarantee, such as duress and undue influence •Looks at special principles applicable to guarantees which will lead to the guarantee being discharged and provides guidance on how to avoid common pitfalls Advises on how the lender can guard against discharge of a guarantee Considers problems the lender may have enforcing the guarantee Looks at the rights of guarantors both before and after payment Includes procedural aspects of the law for litigation New for this edition: Updated for the Insolvency Rules 2016 Notes impending changes to legislation due to Brexit Incorporates over 50 new cases on guarantees and indemnities, covering the full spectrum of issues Focuses on English case law but, as with past editions, also makes substantial reference to decisions from the rest of the UK, Ireland and around the Commonwealth Keeps abreast of general developments in contract law since the last edition, on topics such as construction, rectification, illegality, penalties and damages