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Owner’s Guarantee
Is it lawful for the bank to accept the guarantee of an owner for a contractor constructing a building for the guarantor himself?
It is lawful for the bank to accept the guarantee of an owner for a contractor in the construction of something for the guarantor himself since the guarantor acts as a surety in relation to the work that is taking place between the contractor and the bank. The fact that the construction is undertaken in the guarantor’s interest has no bearing on the matter.

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