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GUARANTEES ACKNOWLEDGMENT ACT

GUARANTEES ACKNOWLEDGMENT ACT

Chapter G‑11

Table of Contents

                1      Definitions

                2      Application of Act

                3      Requirements

                4      Certificate

                5      Certificate as evidence

                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)    “lawyer” means,

                                        (i)    with reference to an acknowledgment made in Alberta, an active member of The Law Society of Alberta, other than an honorary member, who has not been suspended, and

                                      (ii)    with reference to an acknowledgment made in a jurisdiction other than Alberta, a lawyer entitled to practise law in that jurisdiction.

RSA 2000 cG‑11 s1;2013 cN‑5.5 s31;2014 c13 s7

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 lawyer,

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

                               (c)    in the presence of the lawyer signs the certificate referred to in section 4.

RSA 2000 cG‑11 s3;2013 cN‑5.5 s31;2014 c13 s7

Certificate

4(1)  The lawyer, 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, must issue a certificate 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 2000 cG‑11 s4;2013 cN‑5.5 s31;2014 c13 s7

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

6   Repealed 2013 cN‑5.5 s31.

Regulations

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

RSA 1980 cG‑12 s7