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Definition of Guaranty
1. Noun. A collateral agreement to answer for the debt of another in case that person defaults.
Definition of Guaranty
1. n. 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.
2. v. t. 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,
Definition of Guaranty
1. Noun. (legal) 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 warranty; a security. ¹
2. Noun. Something serving as a security for such an undertaking. ¹
3. Noun. An assurance or guarantee. ¹
4. Verb. (obsolete spelling of guarantee) ¹
¹ Source: wiktionary.com
Definition of Guaranty
1. to assume responsibility for the quality of [v -TIED, -TYING, -TIES]
Lexicographical Neighbors of Guaranty
Literary usage of Guaranty
Below you will find example usage of this term as found in modern and/or classical literature:
1. United States Supreme Court Reports by Lawyers Co-operative Publishing Company, United States Supreme Court (1885)
"an offer to guaranty the debt of another, and it must be accepted and notice ...
The authorities hold that such notice, in the case of such a guaranty ..."
2. A Practical Treatise of the Law of Evidence, and Digest of Proofs, in Civil by Thomas Starkie (1891)
"A guaranty of payment of the debt of J3. is conditioned to be void, if the party do
... Held, that without notice, &c. this did not amount to a guaranty. ..."
3. South Eastern Reporter by West Virginia Supreme Court of Appeals, West Publishing Company, South Carolina Supreme Court (1911)
"HOLDEN, J. The defendants In error, hereinafter called the plaintiffs, in a suit
to recover upon the guaranty hereinafter referred to, and for other ..."
4. A Treatise on the Law of Negotiable Instruments: Including Bills of Exchange by John Warwick Daniel (1913)
"A guaranty is defined to be a promise to answer for the payment of some debt, or
the performance of some duty, in case of the failure of another person who ..."
5. The Law of Contracts by Theophilus Parsons (1883)
"OP REVOCATION OF guaranty. A promise of guaranty is always revocable at the
pleasure of the guarantor by sufficient notice, unless it be made to cover some ..."
6. Laws of Business for All the States and Territories of the Union and the by Theophilus Parsons (1909)
"If a guaranty purport to be official, that is, if it be made by one who claims
to hold a certain office, and to give the promise of guaranty only as such ..."
7. A Treatise on the Law of Railroads: Containing a Consideration of the ...by Byron Kosciusko Elliott, William Frederick Elliott by Byron Kosciusko Elliott, William Frederick Elliott (1922)
"guaranty in excess of minimum railway operating income.—Under section (d) if for
the guaranty period as a whole the railway operating income of any carrier ..."
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