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guaranty

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guaranty

 

  3  definitions  found 
 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
 
  Guaranty  \Guar"an*ty\,  n.;  pl  {Guaranies}.  [OF.  guarantie, 
  garantie  F.  garantie  OF  guarantir,  garantir  to  warrant, 
  to  guaranty,  E.  garantir  fr  OF  guarant,  garant,  a 
  warranter,  F.  garant;  of  German  origin,  and  from  the  same 
  word  as  warranty.  See  {Warrant},  and  cf  {Warranty}, 
  {Guarantee}.] 
  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. 
 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
 
  Guaranty  \Guar"an*ty\,  v.  t.  [imp.  &  p.  p.  {Guarantied};  p.  pr 
  &  vb  n.  {Guarantying}.]  [From  {Guaranty},  n.] 
  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. 
 
  Note:  Guaranty  agrees  in  form  with  warranty.  Both  guaranty 
  and  guarantee  are  well  authorized  by  legal  writers  in 
  the  United  States.  The  prevailing  spelling,  at  least 
  for  the  verb  is  guarantee. 
 
  From  WordNet  r  1.6  [wn]: 
 
  guaranty 
  n  :  a  collateral  agreement  to  answer  for  the  debt  of  another  in 
  case  that  person  defaults  [syn:  {guarantee}]




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