UNITED DOMINIONS TRUST LTD. v. BEECH, SAVAN, TABNER AND THOMPSON

[1972] 1 Lloyd's Rep. 546

QUEEN'S BENCH DIVISION

Before Mr. Justice Geoffrey Lane

Guarantee-Finance of hire-purchase agreements - Promissory notes given to finance company by dealer - Assignment to finance company of benefit of hire-purchase agreements - Guarantee by third party that dealer would not default on promissory notes - Default by third party - Whether assignment really mortgage - Whether advance by finance company was "banking facility" - Liability of guarantor - Contra proferentem rule. Hire-purchase - Assignment of benefit of hire-purchase agreement - Whether assignment really mortgage.