Where a guarantee and indemnity section of a credit application is laid out in two columns with separate signature blocks for the guarantee and indemnity, signing under one column binds the signatory to both obligations if the clauses are properly read as a single promise supported by a single expression of consideration. An indemnity that relates to a facility described as amendable 'from time to time' is not discharged by variation of the facility's terms. A continuing guarantee/indemnity with divisible consideration is revocable on notice, but the indemnifier must actually give notice of termination — merely ceasing to be a director does not terminate the obligation. The question whether material variation of principal obligations can discharge an indemnifier (where the indemnity does not contemplate amendment) remains open.
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