Guarantee: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Change 'his' to 'the other's'.) |
imported>Doug Williamson (Distinguish the English law definitions of guarantee and bond. Source: the Oxford Dictionary of Law, 7th Edition 2009.) |
||
| Line 7: | Line 7: | ||
The undertaking so given. | 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. | |||
Revision as of 16:25, 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.
