legal definition of guarantee
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Guarantee Guarantee is a legal term more comprehensive and of higher import than either warranty or security. It most commonly designates a private transaction by means of which one person, to obtain some trust, confidence or credit for another, engages to be answerable for him.
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Bond Forfeiture Law and Legal Definition Bond Forfeiture Law and Legal Definition. Bond forfeiture is the encashment or enforcement of a guarantee by its beneficiary under the terms of a guarantee agreement. Generally, bond is an amount set by the court, in either cash or property that is posted to ensure the arrestee/defendants appearance for court actions.
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WARRANTY Hypernyms (guarantee is a kind of...): assurance; pledge (a binding commitment to do or give or refrain from something) Hyponyms (each of the following is a kind of guarantee): security; surety (a guarantee that an obligation will be met) deposit (a payment given as a guarantee that an obligation will be met)
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Loan guarantee A loan guarantee, in finance, is a promise by one party (the guarantor) to assume the debt obligation of a borrower if that borrower defaults. A guarantee can be limited or unlimited, making the guarantor liable for only a portion or all of the debt. 1 Private loan guarantees 1.1 Guarantor mortgages.
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support Legal Definition of support. 1  1 : the act or process of supporting : the condition of being supported pledged the candidate their support. 2  2 : a means of obtaining the necessities of life (as food, shelter, and clothing) : a source of livelihood especially in the form of alimony or child support. 3  3 : something that provides support.
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- a clause in a legal instrument, a law, etc., providing for a particular matter; stipulation; proviso. 2. the providing or supplying of something, especially of food or other necessities.
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What is right spelling, guarranty or guarantee ? A guarantee, as for a product or service: a new refrigerator still under guaranty. b. A guarantee to perform something in a specified way. 4. A guarantee serving to assure a particular outcome or condition. 5.
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Litigation Guarantee Litigation Guarantee. A Litigation Guarantee is designed for issuance to an attorney representing the plaintiff in an action affecting land. Typical litigation includes actions to quiet title, foreclosure of liens, condemnation and declaratory relief.back. Litigation Guarantee is designed for issuance to an attorney representing the plaintiff in an action affecting land. Typical litigation includes actions to quiet title, foreclosure of liens, condemnation and declaratory relief. back.
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Donald Trump will keep honorary degree at Lehigh University The Lehigh University board of trustees on Friday announced its decision to take “no action” on a petition calling for the university to revoke President Donald Trump's honorary degree from the university. A petition with more than 30,000 signers had called on Lehigh to revoke the degree. Here...
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Warranty Law Law and Legal Definition Express warranties are created by affirmative acts of the seller that are an affirmation of fact or promise made by the seller which relates to the goods and becomes part of the basis of the bargain.Express warranties can be created when the seller describes the goods or furnishes samples.arranties. A product or service warranty (also known as guarantee) is a promise, from a manufacturer or seller, to stand behind the product or service. It is a statement about the integrity of the product and about the seller's commitment to correct problems should the product or service fail.
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- This page provides all possible meanings and translations of the word ensure. Princeton's WordNet(0.00 / 0 votes)Rate this definition: Wiktionary(1.00 / 1 vote)Rate this definition: To make a pledge to (someone); to promise, guarantee (someone of something); to assure.
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Pledge (law) Pledge (law) For other uses, see Pledge (disambiguation). A pledge is a bailment that conveys possessory title to property owned by a debtor (the pledgor) to a creditor (the pledgee) to secure repayment for some debt or obligation and to the mutual benefit of both parties. The term is also used to denote the property which constitutes the security.
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Indemnity An indemnity is distinct from a guarantee, which is the promise of a third party to honor the obligation of a party to a contract should that party be unable or unwilling to do so (usually a guarantee is limited to an obligation to pay a debt).
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guarantee This page provides all possible meanings and translations of the word ensure. guarantee, ensure, insure, assure, secure(verb) make certain of. This nest egg will ensure a nice retirement for us; Preparation will guarantee success!.
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LawProse Lesson #121: Whatâs the difference between guarantee and guaranty? The promise to pay the debt or fulfill the obligation of another if that person fails to do so {the father signed a guaranty for his son’s car loan}. Guaranty formerly functioned also as a verb—a variant of guarantee —but that form is now obsolete. Guaranty should now be used only in its modern legal sense, as a noun. Guarantor, n. 1. One who makes a guaranty {the father was the guarantor on his son’s loan}. 2.
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- › [C] something that makes another thing sure to ​happen or to be ​true: no guarantee of sth/not a guarantee of sth Laboratory ​testing of a new ​drug is not a guarantee of ​safety.a guarantee that There is no guarantee that the discussions will ​lead to a ​deal.
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- A corporate guarantee. is a guarantee in which a flagship or holding or. parent company agrees to be held responsible for. completing the duties and obligations of a smaller/. subsidiary company/debtor to banks/lenders, in. the event that the smaller/subsidiary company/.
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- DEFINITION of 'Endorsement'. 1. A legal term that refers to the signing of a document which allows for the legal transfer of a negotiable from one party to another.2. An attachment to a document that amends or adds to it. Typically, it is an added provision to an insurance policy. Also referred to as a rider. legal term that refers to the signing of a document which allows for the legal transfer of a negotiable from one party to another. 2. An attachment to a document that amends or adds to it. Typically, it is an added provision to an insurance policy. Also referred to as a rider.
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guarantee guarantee. n. 1. (Commerce) a formal assurance, esp in writing, that a product, service, etc, will meet certain standards or specifications. 2. (Law) law a promise, esp a collateral agreement, to answer for the debt, default, or miscarriage of another. 3. (Commerce). a. a person, company, etc, to whom a guarantee is made.
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guarantee / warranty English USA. Another difference between the two, at least for me, is that a guarantee can be verbal, but a warranty is always a written document. Also, guarantee can be a verb, but warranty is only a noun. Aug 31, 2006. #6.
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What is a Letter of Guarantee? In situations where property or other assets have been pledged as collateral for the purchase, a letter of guarantee confirms that those assets will be delivered to the seller in the event of default on the part of the buyer.
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- An endorsement can be a legal term that refers to the signing of a document that allows for the legal transfer of a negotiable from one party to another; it can also refer to an attachment to a document that amends or adds to it.
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- Definition of personal guarantee: Agreement that make one liable for one's own or a third party's debts or obligations. A personal guarantee signifies that the lender (obligee) can lay claim to the guarantor's assets in case of the ... Dictionary Term of Day Articles Subjects Sign Up BusinessDictionary
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LawProse Lesson #121: Whatâs the difference between 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.
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guarantee Definition of guarantee for Students. 1  1 : a promise that something will be or will happen as stated a guarantee against defects. 2  2 : something given as a promise of payment : security.
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- noun. 1  1A formal assurance (typically in writing) that certain conditions will be fulfilled, especially that a product will be repaired or replaced if not of a specified quality. ‘we offer a 10-year guarantee against rusting’. 2  2Law.