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LexisNexis Practical Guidance®
Straightforward guidance across a range of topics
- Guarantees
- The application of the Banking Code of Practice in guarantees
Practice guidance from selected case law relating to the Banking Code of Practice and guarantees
This guidance note provides practical guidance from selected recent case law regarding the operation of the Banking Code of Practice (BCOP) and its application on guarantees:
- • George 218 Pty Ltd v Bank of Queensland Ltd [2015] WASC 434; BC201511125;
- • Doggett v Commonwealth Bank of Australia [2015] VSCA 351; BC201512471;
- • National Australia Bank Ltd v Rose [2016] VSCA 169; BC201605918; and
- • Commonwealth Bank of Australia v Wood [2016] VSC264; BC201605082.
This guidance note also briefly considers Marsden v DCL Developments Pty Ltd (No. 3). This decision again confirms that the BCOP has contractual effect when incorporated by reference in terms and conditions to the applicable financing documents. See Marsden v DCL Developments Pty Ltd (No. 3) [2016] NSWSC 1795.
See Practice guidance from selected case law relating to the Banking Code of Practice and guarantees .
