Guarantee: Difference between revisions
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imported>Doug Williamson (Distinguish the English law definitions of guarantee and bond. Source: the Oxford Dictionary of Law, 7th Edition 2009.) |
imported>Doug Williamson (Link with Security page.) |
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| Line 17: | Line 17: | ||
* [[Guarantor]] | * [[Guarantor]] | ||
* [[Indemnity]] | * [[Indemnity]] | ||
* [[Security]] | |||
* [[Upstream]] | * [[Upstream]] | ||
==External links== | ==External links== | ||
http://www.treasurers.org/node/9128 | http://www.treasurers.org/node/9128 | ||
Revision as of 16:34, 21 March 2015
1.
To assume the liability for debts of another in the event of the other's default.
2.
The undertaking so given.
In English law a stronger form of security would be a bond, a bond being a direct primary obligation from the issuer of the bond, such as a bank or insurance company.
