GUARANTY
\ɡˈaɹənti], \ɡˈaɹənti], \ɡ_ˈa_ɹ_ə_n_t_i]\
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In law and common usage: An undertaking to answer for the payment of some debt, or the performance of some contract or duty, of another, in case of the failure of such other to pay or perform; a guarantee; a warranty; a security.
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In law and common usage: To undertake or engage that another person shall perform (what he has stipulated); to undertake to be answerable for (the debt or default of another); to engage to answer for the performance of (some promise or duty by another) in case of a failure by the latter to perform; to undertake to secure (something) to another, as in the case of a contingency. See Guarantee, v. t.
By Oddity Software
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In law and common usage: An undertaking to answer for the payment of some debt, or the performance of some contract or duty, of another, in case of the failure of such other to pay or perform; a guarantee; a warranty; a security.
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In law and common usage: To undertake or engage that another person shall perform (what he has stipulated); to undertake to be answerable for (the debt or default of another); to engage to answer for the performance of (some promise or duty by another) in case of a failure by the latter to perform; to undertake to secure (something) to another, as in the case of a contingency. See Guarantee, v. t.
By Noah Webster.
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When used as a verb, to agree to pay another person's debt or perform another person's duty, if that person fails to come through. As a noun, the written document in which this assurance is made. For example, if you cosign a loan, you have made a guaranty and will be legally responsible for the debt if the borrower fails to repay the money as promised. The person who makes a guaranty is called the guarantor. Also known as a guarantee or warranty.
By Oddity Software