Die Bürgschaft auf erstes Anfordern im deutschen und englischen Recht

The first demand guarantee has been specifically designed to meet the essential commercial need for quick and reliable securities. Yet the liquidity function that lies at the very heart of the first demand guarantee involves an immense potential for abuse. A satisfactory conception of first demand guarantees must therefore reconcile two seemingly conflicting ideas. On the one hand, the beneficiary's confidence in a quick and reliable security must be protected, on the other hand, abusive calls on the guarantee must be prevented.
Stefan Arnold examines, compares and evaluates the dogmatic foundations on which English and German law overcome this conflict, and the results they achieve. He focuses on fundamental issues of private law: freedom of contract and its limits, the methods of contract interpretation and the need for legal certainty.
This book won the »Wissenschaftspreis« (academic award) of the BayernLB.