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Guarantees Law

For many businesses, applying for a bank loan is necessary for the growth and longevity of the company. However, in some cases lenders may ask for additional assurance before granting a loan. They may want to hold a third party liable for the obligations of the debtor in the event they do not fulfil the obligations originally agreed upon. In other words the lender can request a guarantee, a binding legal agreement, whereby the guarantor will on default satisfy the debtor’s obligations.

For example, if a company wishes to apply for a bank loan, the bank may require the director to be held personally responsible for paying back that loan if the company finds itself in a position where it cannot pay off the debt. As you can imagine, this can be of great personal risk and therefore some banks request a certificate from a lawyer stating that the director has received legal advice and fully understand their obligations before signing.

The team at Lynn & Brown Lawyers can provide you with the right legal advice helping you make a decision that protects your assets and financial future.

If you have been asked to stand guarantor for a bank loan, give us a call today to make an appointment and have a chat to one of our experienced fixed fee commercial lawyers.

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Our Expert Team

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Steven Brown

Director

Steven is a Perth lawyer and director, and has over 20 years’ experience in legal practice and practices in commercial law, dispute resolution and estate planning. As a principal of Lynn & Brown Lawyers, Steven is focussed on providing commercial...
Meet Steven
Chanelle

Chanelle Kane

Lawyer

Chanelle has been in the industry since 2013 and graduated with a Bachelor of Laws in 2020.  Chanelle completed the Graduate Diploma of Legal Practice with the College of Law in 2020 and was awarded the 2020 PLT Professional Excellence Award for the cohort....
Meet Chanelle

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Testimonials

I am running a small business as an independent engineering consultant, and I have engaged Lynn and Brown on several occasions. From my initial request, through their proposal for service and to delivering their formal advice, Lynn and Brown demonstrated professionalism, attention to detail and focus on meeting customer deadlines. I will have no hesitation in approaching them for legal advice and I wish them all the success in the future.

- NavTec Pty Ltd

NavTec Pty Ltd
Cherry’s Catering has been involved with Lynn & Brown Lawyers and their team for over 10 years! I always find them and their service to be of the highest quality. I would highly recommend their services to anyone looking for a law firm. Deb – Director, Cherry’s Catering

- Deb

I am happy with the work I have to say, and also in a few matters they have given me info which saved me time money and stress. I will be using their expertise again in the future for sure. Thank you :) Simon

- SimonSays

Lynn & Brown Lawyers is a family business that has a fixed price fee structure and operates under great vision and values.

- Nigel

I can highly recommend Lyn & Brown Lawyers. They delivered the outcome as promised on time and on budget. Very easy to deal with.

- Anita

Thank you to Steve and the team at Lynn & Brown Lawyers for our new contracts for our clients. I can highly recommend Lynn & Brown Lawyers.

- Ben

Frequently Asked Questions

Operating your business or investments through a company provides a lot of protection for those operating the company, known as directors. However, increasingly, in Australia the protection of directors is being wound back. Directors can be liable for some company’s debts, such as, PAYG and staff superannuation. Also, if the company trades insolvently and certain occupational health and safety penalties.
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Contracts are everywhere in our life, from simple sale and purchase agreements, service supply, property leasing, to employment, banking and investments. Like many of us, you may have been stuck in a contract and wanted to get out. Can you? There are different ways to end a contract. However, contracts are binding legal instruments, so a free exit ticket may not always be available.
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One of the most satisfying tasks we perform at Lynn and Brown Lawyers is to work with our clients to either purchase or sell a business. We all know how stressful it is buying or selling a property and hoping to achieve a successful outcome. These stresses are no different to those that exist around buying or selling a business, particularly if that business is one you have built from scratch or the business that you are looking to buy is as a result of a significant lifestyle change or ambition for the next stage of your career.
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A shareholders’ agreement is a contract signed by the shareholders of a company, which regulates their obligations and rights, as well as what should happen if certain situations arise. 
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A good lawyer, with experience, can often foresee things others could not. Sometimes there is nothing you can do about an unforeseeable event happening after you agree to a contract, but there are some things you can do to ensure your contract is as well drafted as possible. We have decades of experience on contract disputes. We will use this experience to protect you.
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If you are thinking of starting a business, you will need to consider the different business structures available to you and work out which structure will best suit your needs. In Australia, businesses are commonly structured as sole traders, companies, partnerships, discretionary trusts and unit trusts. It is important to seek professional advice (from a lawyer, accountant, or business adviser) before deciding which business structure to use.
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A contract requires fundamental factors to be a valid contract: (a) An offer; (b) Acceptance; (c) Consideration; (d) Intention to enter into a legally binding arrangement.
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Do you rent a retail or commercial property and want to end the lease? The first thing you should always do is check the terms of your lease agreement. Different agreements may include different methods for termination or different situations that allow you to terminate the lease. Landlords can usually terminate a lease if the tenant is late with rental payment for 7 days or if the tenant materially breaches the lease and does not rectify the breach after being notified for 14 days. These are standard lease clauses, but each case will turn on the actual lease.
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Fact Sheets

Restraint of Trade & Confidentiality Clauses

As an employer, you have been using for some time a standard restraint of trade clause in your contract of......
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Personal Property Securities Act

The Personal Property Securities Act 2009 (Cth) (PPSA) is relatively new legislation about personal......
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Lending Money to Family & Friends

Lending and borrowing money from a bank follows procedural guidelines that have evolved over centuries......
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Why do I need to have a Document Notarised by a Notary Public?

A Notary Public is also known in Australia as a Public Notary or Notary. They are senior lawyers that......
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