Construction Industry Law Letter

COURT OF APPEAL DECISION REVERSED – CONDITIONAL BONDS NOT TO BE TREATED AS “ON DEMAND” – TRADITIONAL FORM OF BOND IS A GUARANTEE – BOND DID NOT EXCLUDE SET-OFF – TRIABLE ISSUE UNDER ORDER 14

House of Lords, Lords Keith, Ackner, Jauncey, Lloyd and Steyn (Judgment delivered 29 June 1995)

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