Definition of guaranty. A promise to be answerable for the debt or obligation of another . GUARANTY , contracts. I investigated the difference between guaranty and guarantee. Both as a noun and as a verb, guarantee is a modern, commonly used word to express a promise that something will happen, that something is true, or, in certain .
Jun The narrower term, guaranty , today appears mostly in banking and other. A guaranty is a contract under which one person agrees to pay a debt or perform a duty if the other person who is bound to pay the debt or perform the duty fails . A contract by which one person (the guarantor) agrees to pay another´s debt or to perform another´s obligation only if that other individual or legal entity fail to pay . Trustee, pursuant to which a Subsidiary Guarantor guarantees the . Jan On the corporate level, a financial guaranty is a non-cancellable indemnity bond backed by an insurer or other large, secure financial institution . Typically, a lender will insist on an upstream guaranty when it lends to a parent whose only asset is stock . The friendly societies went a step further by attempting to define the . Mar The Restatement does not have any specific definition of an “absolute” or an “ unconditional” guaranty.