What is the test for the purpose of a guarantee?
Alberta, Canada
The following excerpt is from Edmonton Savings & Credit Union Ltd. v. Grandin Park Barbershop & Beauty Parlor Ltd., 1985 CanLII 1321 (AB QB):
In Bank of Montreal v. MacGregor, 21 B.C.L.R. 83 (S.C.), the guarantee provided that the guarantors "guarantee payment to the said bank of all present and future debts … hereafter due or, owing to the said bank from or by the (debtor) … with interest thereon … from the date of demand for payment of the same".
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