n Without Prejudice - State Bank of India case : contract law

Volume 15, Issue 3
  • ISSN : 1681-178X



Demand guarantees provide parties with simple and immediately enforceable security for the fulfilment of a counter party's contractual obligations. Traditionally, there have been very limited grounds upon which a party may challenge a demand made against this form of security. However, the Supreme Court of Appeal has recently cast doubt over the robust nature of demand guarantees.

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