ARRANGEMENT OF SECTIONS

SECTION

1.        Short title

2.        Non-application of laesio enormis to contract

3.        Abolition of common law rules relating to suretyship

Cap. 15, 1959,
L.N. 84, 1966,
Act 21, 1969,
Act 30, 1983,
S.I. 83, 1984.

An Act to consolidate the enactments abolishing the common law rule of laesio enormis and the rule relating to suretyship.

[Date of Commencement: 10th June, 1891]

1.       Short title

            This Act may be cited as the Mercantile Law (Miscellaneous) Amendment Act.

2.       Non-application of laesio enormis

            No contract shall be void or voidable by reason merely of laesio enormis, sustained by either of the parties to such contract.

3.       Abolition of common law rules relating to suretyship

            The common law rules of suretyship known as the Senatus-consultum Velleianum and the Authentica si qua mulier shall cease to be of any force or effect in this country.