S
Usually a Guarantee is for a specific amount and the person who signs it is liable for the full amount mentioned in the Guarantee once demand has been made for payment
a potentially huge liability for possibly a very small return.
Actually the circumstances are fairly similar to the AIB v. Gold case 2001" Be careful with comments like that - it could be construed as implying that borrowers in the (quite different) circumstances you describe could in some way abdicate responsibility for their own actions and hold the advising solicitors responsible.
mf
It's very strange that you'd have only 4% and take full liability, why be involved at all if you were taking on 100% of the risk.
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