The memorandum required need not be contemporaneous with the guaranteed transaction. However, it must exist before the action is commenced due to the wording of the statute. \u00a0If a memorandum exists, but is lost, secondary evidence may be given of its loss and contents.<\/p>\n
The memorandum must show the names of the contracting parties.\u00a0 Evidence of the consideration is not necessary.\u00a0 It need only be signed by the person to be charged.\u00a0 It does not matter what intentions it arose with or how it arose. The memorandum need not be in any form.\u00a0 It need not expressly describe itself as a guarantee.<\/p>\n
The memorandum may be signed by an agent who is authorised in writing or even verbally. He need not necessarily express that he is agent, and secondary evidence may be given as such. \u00a0Some agents may have implied authority to guarantee.<\/p>\n\n
\n <\/div>\n\n","protected":false},"excerpt":{"rendered":"
Nature of Guarantee A true guarantee is a collateral undertaking.\u00a0 The guarantor is liable only if the guaranteed principal defaults on the guaranteed obligations.\u00a0 It is a separate obligation from the guaranteed obligation.\u00a0 However, if the principal obligation terminates, a guarantee will terminate a common law unless a contrary provision is made. The guarantee requires […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[374],"tags":[],"_links":{"self":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/27611"}],"collection":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/comments?post=27611"}],"version-history":[{"count":6,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/27611\/revisions"}],"predecessor-version":[{"id":30513,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/posts\/27611\/revisions\/30513"}],"wp:attachment":[{"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/media?parent=27611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/categories?post=27611"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/legalblog.ie\/wp-json\/wp\/v2\/tags?post=27611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}