Tag: enforcement of loan contract

Introduction A contract is any legally binding agreement between two or more parties. A contract defines and governs the rights and duties between parties in a transaction. A contract may be verbally made or written in a document. A contract can also be formed via electronic messages such as emails …

1          Who is a guarantor? A guarantor is one who gives security for a debt. It is a term used to describe an individual who undertakes to pay a borrower’s debt in the event that the borrower defaults on his loan obligation by pledging his assets as collateral against the loan.  …