Guaranty Agreements in Business and Commercial Transactions

course

COURSE INFO

  • Available Until 10/1/2022
  • Next Class Time 11:00 AM MT
  • Duration 60 min.
  • Format MP3 Download
  • Program Code 10012019
  • MCLE Credits 1 + hours


Course Price: $65.00
ADD TO CART

COURSE DESCRIPTION

Certainty is the cardinal virtue of commercial and business transactions.  That may be certainty over the payment of money or the performance of certain functions or services, but a party to a transaction wants assurance that its counter-party will perform according to their agreement.  Commercial guarantees are an important instrument for enhancing the credit worthiness of a transaction and/or assuring performance.  Guarantees are agreements by third parties to perform functions or pay money on the default of one of the signatories to an agreement. There are many types of guarantees, each with its own drafting nuances, depending on the type of transaction involved. This program will provide you with a practical guide to drafting guarantees in commercial and business transactions.

  • Types of guarantees – absolute v. conditional, payment v. collection, performance, downstream v. upstream
  • Essential role of consideration for guarantee
  • Drafting joint and several liability provisions
  • Release of co-guarantors
  • Enhancing cost-effective enforcement and dispute resolution
  • Defenses to enforcement of guaranties, including misrepresentation

 

Speakers:

Steven O. Weise is a partner in the Los Angeles office Proskauer Rose, LLP, where his practice encompasses all areas of commercial law. He has extensive experience in financings, particularly those secured by personal property.  He also handles matters involving real property anti-deficiency laws, workouts, guarantees, sales of goods, letters of credit, commercial paper and checks, and investment securities.  Mr. Weise formerly served as chair of the ABA Business Law Section. He has also served as a member of the Permanent Editorial Board of the UCC and as an Advisor to the UCC Code Article 9 Drafting Committee.  Mr. Weise received his B.A. from Yale University and his J.D. from the University of California, Berkeley, Boalt Hall School of Law.