GUARANTEES ACKNOWLEDGMENT ACT

Chapter G‑11

Table of Contents

                1       Definitions

                2       Application of Act

                3       Requirements

                4       Certificate

                5       Certificate as evidence

                6       Fees

                7       Regulations

HER MAJESTY, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows:

Definitions

1   In this Act,

                                 (a)    “guarantee” means a deed or written agreement whereby a person, not being a corporation, enters into an obligation to answer for an act or default or omission of another, but does not include

                                           (i)    a bill of exchange, cheque or promissory note,

                                          (ii)    a partnership agreement,

                                         (iii)    a bond or recognizance given to the Crown or to a court or pursuant to a statute, or

                                         (iv)    a guarantee given on the sale of an interest in land or an interest in goods or chattels;

                                 (b)    “notary public” means,

                                           (i)    with reference to an acknowledgment made in Alberta, a notary public in and for Alberta, and

                                          (ii)    with reference to an acknowledgment made in a jurisdiction outside Alberta, a notary public in and for that jurisdiction.

RSA 1980 cG‑12 s1

Application of Act

2   This Act applies to guarantees entered into on or after September 1, 1969.

RSA 1980 cG‑12 s2

Requirements

3   No guarantee has any effect unless the person entering into the obligation

                                 (a)    appears before a notary public,

                                 (b)    acknowledges to the notary public that the person executed the guarantee, and

                                 (c)    in the presence of the notary public signs a statement at the foot of the certificate of the notary public in the prescribed form.

RSA 1980 cG‑12 s3

Certificate

4(1)  The notary public, after being satisfied by examination of the person entering into the obligation that the person is aware of the contents of the guarantee and understands it, shall issue a certificate under the notary public’s hand and seal of office in the prescribed form.

(2)  Every certificate issued under this Act shall be attached to or noted on the instrument containing the guarantee to which the certificate relates.

RSA 1980 cG‑12 s4

Certificate as evidence

5   A certificate issued under this Act that is

                                 (a)    substantially complete and regular on the face of it, and

                                 (b)    accepted in good faith by the person to whom the obligation was incurred without reason to believe that the requirements of this Act have not been complied with,

shall be admitted in evidence and is conclusive proof that this Act has been complied with.

RSA 1980 cG‑12 s5

Fees

6   The fee payable to a notary public for the issue of a certificate under this Act and all incidental services must not exceed $5.

RSA 1980 cG‑12 s6

Regulations

7   The Lieutenant Governor in Council may make regulations prescribing forms for the purposes of this Act.

RSA 1980 cG‑12 s7