Hong Kong Guarantee Law (Volume 1 and 2)

Author: He Meihuan
Publisher:
Publish Date: 1995-11-01
Features: People often say that credit is the lifeblood of business. Although recent events have once again shown that guarantees cannot replace credit analysis, it is undeniable that guarantees do indeed make credit flow more smoothly. This book studies two types of credit guarantees: personal guarantees and movable property guarantees. "Credit" refers to any form of financial assistance provided, such as advances, deferred purchase prices, or the issuance of guarantees. This book ed studies personal guarantees, meaning someone agrees to repay the debt incurred by the credit provided, so that the lender can pursue them in case of default. The second to sixth chapters study movable property guarantees arising from agreements, where someone provides movable property to secure the repayment of the debt incurred by the credit provided. Most credit in Hong Kong is secured by land, but due to space limitations and because the Hong Kong government is currently reforming land law, this book does not cover land as a form of guarantee.