Guarantor Liability 2017
This program provides a survey of guarantor liability issues from the litigator’s perspective. It covers guaranty basics, as well as more advanced topics, such as assignment of guarantor rights and obligations, nonrecourse carve-outs, and the effect of state anti-deficiency laws. Guaranty issues are addressed from the perspective of both the creditor and the guarantor. The program’s particular focus is whether the creditor may enforce a guaranty in common factual scenarios and, correspondingly, the defenses that may be available to the guarantor. We will review commonly litigated guaranty issues, including validity of the guaranty agreement, suretyship defenses and their waiver, the continuing guaranty, irrevocable guaranties, assignments, the “sham guaranty” defense, and the interpretation and enforcement of nonrecourse carve-outs. The course is designed to enable the legal practitioner to effectively represent clients in negotiating and drafting guaranties, advise clients on their guaranty rights and obligations, and – if necessary – litigate guaranty disputes to successful conclusion.
Key topics to be discussed:
• The Basics of Suretyship and Guaranty
• Drafting an Effective and Enforceable Guaranty
• Defenses to Enforcement
• Recent Developments and Trends in the Law of Guaranty