Darling, Please Sign This Form: A Report on the Practice of Third Party Guarantees in New South Wales

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dc.contributor.author Lovric, J
dc.contributor.author Millbank, J
dc.date.accessioned 2010-06-16T05:04:22Z
dc.date.issued 2003-01
dc.identifier.citation 2003, pp. 1 - 182
dc.identifier.isbn 073472604X
dc.identifier.other R1 en_US
dc.identifier.uri http://hdl.handle.net/10453/12268
dc.description.abstract Research Background This research examined 'third party guarantees', where another person - often a wife or family member - is asked to provide security for the debt of the borrower. Borrowers are frequently involved in running small businesses. The guarantor often receives no direct benefit from the loan and agrees to undertake it due to a relationship of emotional independence; moreover they may be given only incomplete information about the debt and the risks involved. 'Relationship debt' through this kind of contract involves a high risk of unfair dealing, and has generated considerable litigation. Research Contribution This research explored the experiences of the people who agree to guarantee the loans of others. Why do they sign on, how do they get into trouble in those transactions and what might have assisted them in avoiding such difficulties? Prior to this research the main source of information was judgments of cases that are litigated when things "go wrong". Yet litigated cases represent a very small percentage of disputed matters, the vast majority of which settle prior litigation. Reported cases also do not give any sense of transactions that are not disputed. Therefore, drawing information only from litigated cases was misleading policy-makers. This study explored the experiences and views of lenders, borrowers, guarantors, litigants and judges to provide a solid basis for legal reform. Research Significance This project was the first comprehensive Australian empirical research into the law and practices governing third party guarantees. It was funded through an ARC SPIRT (now linkage) grant and undertaken in partnership with the NSW Law Reform Commission. The findings were published as a research report and informed the Commission's final report and recommendations.
dc.publisher NSW Law Reform Commission
dc.subject guarantees, third party guarantees, surety, relationship debt, consumer credit, banking, consumer debt
dc.subject guarantees, third party guarantees, surety, relationship debt, consumer credit, banking, consumer debt
dc.title Darling, Please Sign This Form: A Report on the Practice of Third Party Guarantees in New South Wales
dc.type Report
dc.journal.number en_US
dc.publocation Sydney, Australia en_US
dc.publocation Sydney, Australia
dc.identifier.startpage 1 en_US
dc.identifier.endpage 182 en_US
dc.cauo.name LAW.Faculty of law en_US
dc.conference Verified OK en_US
dc.for 1801 Law
dc.personcode 0000032325 en_US
dc.personcode 101296 en_US
dc.percentage 100 en_US
dc.classification.name Law en_US
dc.classification.type FOR-08 en_US
dc.edition en_US
dc.custom en_US
dc.date.activity en_US
dc.location.activity en_US
dc.description.keywords guarantees, third party guarantees, surety, relationship debt, consumer credit, banking, consumer debt en_US
dc.description.keywords guarantees, third party guarantees, surety, relationship debt, consumer credit, banking, consumer debt
dc.staffid en_US
dc.staffid 101296 en_US
pubs.embargo.period Not known
pubs.organisational-group /University of Technology Sydney
pubs.organisational-group /University of Technology Sydney/Faculty of Law
pubs.organisational-group /University of Technology Sydney/Strength - Law Research


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