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gua·ran·tee /ˌgar-ən-'tē, ˌgär-/ n [probably alteration of guaranty]1: guarantor2: guaranty (1)3: an assurance that a condition will be fulfilled: asa: an agreement by which one person undertakes to secure another in the possession or enjoyment of somethingb: an assurance of the quality or of the length of use to be expected from a product offered for sale often with a promise of reimbursement4: guaranty (4, 5)constitutional guarantee sguarantee vt
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
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I
verb
answer for, assume responsibility, assure, back, be responsible for, become liable, become surety for, certify, commit oneself, ensure, fides, give assurance, give one's word, guard, hypothecate, impignorate, insure, make oneself answerable for, obligate, pledge, promise, safeguard, secure, sponsio, sponsor, stake, support, underwrite, vadimonium, vouch for, warrant
associated concepts: guarantee a title, guarantee against breakage, guarantee payment
II
index
accommodation (backing), assure (insure), bear (adduce), bond, bond (secure a debt), certificate, certify (attest), charge (lien), close (agree), confirm, consent, contract, corroborate, cosign, covenant, coverage (insurance), deposit, ensure, hostage, hypothecation, indemnify, indorse, insurer, oath, pact, pawn, pledge (binding promise), pledge (security), pledge (deposit), pledge (promise the performance of), precaution, promise, promise (vow), protection, reassure, recommend, security (pledge), sponsor, stipulate, subscribe (promise), swear, undertake, undertaking (pledge), underwrite, verify (swear), vouch, warranty
Burton's Legal Thesaurus. William C. Burton. 2006
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n.(1) A promise or formal statement that specific conditions are the case or will be met.(2) A person who receives a guarantee.v.guarantee
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
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a collateral promise to answer for the debt or obligation of another. A guarantee is a secondary obligation, becoming operative only where the principal debtor is in default; because it is a secondary obligation, should the primary obligation be unlawful or invalid or unenforceable, the guarantor or surety cannot be compelled to make payment under the guarantee. A guarantee should be distinguished from an indemnity, which is a primary obligation to compensate the loss of another; in the latter case the unenforceabili-ty of the principal debt will not render the indemnity unenforceable. In Scotland, the same relationship is regulated by the institution of caution (pronounced 'cayshun'). Proper caution is the term used where the cautioner is expressly bound as guarantor to the creditor. The term improper caution is used when the cautioner is bound as a co-obligant with the principal debtor jointly and severally to the creditor.The term is used colloquially in the UK for a statement by a manufacturer of goods that it will undertake some responsibility such as repair or replacement.
Collins dictionary of law. W. J. Stewart. 2001.
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See: guarantyCategory: Business, LLCs & Corporations → Business Accounting, Bookkeeping & FinancesCategory: Business Cash Flow Problems & BankruptcyCategory: Business, LLCs & Corporations → Business Tax & DeductionsCategory: Bankruptcy, Foreclosure & Debt → Debt & Collection AgenciesCategory: Personal Finance & Retirement → Taxes → Tax AuditsCategory: Real Estate & Rental Property → Selling a HouseCategory: Real Estate & Rental Property → Homeowners
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
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A legal commitment to repay a debt if the original borrower fails to do so. A guarantee is not enforceable unless it is in writing or there is a memorandum or note of the agreement signed by the guarantor or at its direction (section 4, Statute of Frauds Act 1677).+ guarantee, Also known as guaranty+ guarantee A guarantee is a legal commitment to repay a debt if the original borrower fails to do so. Guarantees may be requested from a parent company when doing business with one of its subsidiaries (subsidiary; subsidiary company).USAAn agreement by which a party (the guarantor) assumes the responsibility for the payment or performance of an obligation or action of another party.Related linksBonds, guarantees and standby credits: overview
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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1 n. A commitment by a third party to make good in the event of a default by a party to a contract, by paying the money or providing the performance due from the defaulting party.2 v. To promise to make good in the event of a default by a party to a contract by paying the money or providing the performance due from the defaulting party.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
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One to whom a guaranty is made. This word is also used, as a noun, to denote the contract of guaranty or the obligation of a guarantor, and, as a verb, to denote the action of assuming the responsibilities of a guarantor.
Dictionary from West's Encyclopedia of American Law. 2005.
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One to whom a guaranty is made. This word is also used, as a noun, to denote the contract of guaranty or the obligation of a guarantor, and, as a verb, to denote the action of assuming the responsibilities of a guarantor.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
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1) v. to pledge or agree to be responsible for another's debt or contractual performance if that other person does not pay or perform. Usually, the party receiving the guarantee will first try to collect or obtain performance from the debtor before trying to collect from the one making the guarantee (guarantor).2) the promise to pay another's debt or fulfill contract obligations if that party fails to pay or perform.3) n. occasionally, the person to whom the guarantee is made.4) a promise to make a product good if it has some defect.See also: guarantor
Law dictionary. EdwART. 2013.
