Guaranty

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Commonly Asked Questions about Guaranty

What is the term of guaranty?

Term of Guaranty. The term of this Guaranty shall remain in full force and effect until each of the Obligations has been fully paid, satisfied or performed, as the case may be.

How do Americans spell guarantee?

guarantee | American Dictionary a promise that something will be done or will happen, esp. a written promise by a company to repair or change a product that develops a fault within a particular period of time: [ C ] The vacuum cleaner comes with a two-year guarantee.

What is called guaranty?

noun. guaranty ˈgar-ən-tē, ˈgr- plural guaranties. 1. : a pledge to pay anothers debt or to perform anothers duty in case of the others default or inadequate performance compare letter of credit.

What is an example of a guaranty?

A guaranty clause can take many forms; a primary example is a loan agreement that is co-signed, which can signify a guaranty from the co-signer to a specific amount, even if the loan agreement does not use a specific guarantor title.

Which is correct, guarantee or guaranty?

Guarantee is both a verb and a noun. Guaranty is a spelling variant for the noun, used in certain legal contexts. I can guarantee that Vicky will be back here within the week.

What is the meaning of guaranty?

1. : an undertaking to answer for the payment of a debt or the performance of a duty of another in case of the others default or miscarriage. 2. : guarantee sense 3.

How do you use guaranty in a sentence?

The council bowed to the committee and issued a guaranty certificate transferring the unimpeded right to negotiate thereby rendering itself incapable of action.

When to use guarantee vs guaranty?

Bryan A. Garner of LawProse explains the difference between the terms guarantee and guaranty. ANSWER: Guarantee, the broader and more common term, is both a verb and a noun. The narrower term, guaranty, today appears mostly in banking and other financial contexts; it seldom appears in nonlegal writing.