n Without Prejudice - State Bank of India case : contract law
|Article Title||State Bank of India case : contract law|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Apr 2015|
|Pages||26 - 27|
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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