Guarantee

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Revision as of 16:25, 21 March 2015 by imported>Doug Williamson (Distinguish the English law definitions of guarantee and bond. Source: the Oxford Dictionary of Law, 7th Edition 2009.)
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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.


See also

External links

http://www.treasurers.org/node/9128