V Ltd v BS [2023] NZDT 695 (8 December 2023) [pdf, 154 KB]
...a personal guarantee he would reimburse V Ltd for any ‘clawback’ paid to [insurance company], which is not enforceable because it is not compliant with s27(2). 8. A personal guarantee is a binding undertaking someone gives to guarantee performance of a party to a contract of which the party giving the guarantee is not a contracting party, and which is enforceable against the guarantor by the other party to the contract. If the contract between [Insurance Company] and V Ltd was si...