LPL4801
Assignment 1 Semester 2 2023
Unique Number: 571441
Due Date: 25 August 2023
QUESTION 1 (4 DIFFERENT ANSWERS PROVIDED)
1. The key facts of the case Joint Stock v Absa Bank 2008 (4) SA 287 (SCA) are as
follows:
Joint Stock was a company that issued guarantees to Westar Development
(Westar) in the construction of a shopping mall.
Absa Bank was the bank that issued a letter of credit to Joint Stock to secure
the guarantees.
Westar defaulted on its obligations to Joint Stock, resulting in Joint Stock
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OF USE to honor the guarantees.
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