[Joint and several bank guarantee by 5 persons to obtain a company overdraft. Subsequent guarantee entered into by 3 of the 5 to guarantee the same account in an increased sum.
Prior to the subsequent guarantee the 2, who do not enter into it, have a conversation with a bank officer informing him that they would like to be released from the first guarantee. He tells them that he will deal with the matter. No written notice of determination is given as required by the terms of the guarantee and there is non further communication as to release between the Bank and the 2 guarantors. Held that the evidence of the conversation fell far short of the clarity, precision and weight required to determine the guarantee. ]