Failed Suspensive Conditions and the Law of Suretyship: Some Basic Principles – Firstrand Bank Ltd V Meyer

The decision in Firstrand Bank Ltd v Meyer is notable for raising a number of issues relating to the general principles of the law of contract as applied within the specific context of suretyship agreements. The most prominent of these is the legal effect of noncompliance with a suspensive condition in a loan agreement upon an ancillary suretyship agreement.