Tag: Guaranty
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Absolute guaranty
An unconditional guaranty. It is not necessary, of course, that it be totally unlimited or unrestricted, e.g., payment of the debt of $10,000 presently owing from X to Y is hereby guaranteed may also be described as an absolute guaranty….
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Absolute guaranty
An unconditional guaranty. It is not necessary, of course, that it be totally unlimited or unrestricted, e.g., payment of the debt of $10,000 presently owing from X to Y is hereby guaranteed may also be described as an absolute guaranty….
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Guaranty Company
What is Guaranty Company? A definition of guaranty company is: A corporation authorized to transact the business of entering into contracts of guaranty and suretyship; as one which, for fixed premiums, becomes surety on judicial bonds, fidelity bonds, and the like.[1] Resources Notes […]
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Guaranty Company
What is Guaranty Company? A definition of guaranty company is: A corporation authorized to transact the business of entering into contracts of guaranty and suretyship; as one which, for fixed premiums, becomes surety on judicial bonds, fidelity bonds, and the like.[1] Resources Notes […]
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Collateral Guaranty
What is Collateral Guaranty? A definition of collateral guaranty is: A contract by which the guarantor undertakes, in case the principal fails to do what he has promised or undertaken to do, to pay damages for such failure; distinguished from an engagement of suretyship in this respect, that a […]
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Conditional Guaranty
What is Conditional Guaranty? A definition of conditional guaranty is: One which depends upon some extraneous event, beyond the mere default of the principal, and generally upon notice of the guaranty, notice of the principal’s default, and reasonable diligence in exhausting proper remedies […]
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Conditional Guaranty
What is Conditional Guaranty? A definition of conditional guaranty is: One which depends upon some extraneous event, beyond the mere default of the principal, and generally upon notice of the guaranty, notice of the principal’s default, and reasonable diligence in exhausting proper remedies […]
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Special Guaranty
See Guaranty. …
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Guaranty
An undertaking to answer for another’s liability, and collateral thereto. A collateral undertaking to pay the debt of another in case he does not pay it. Shaw, C. J., 24 Pick. (Mass.) 252. 194 111. App. 514. It is distinguished from suretyship in being a secondary, while that is a […]