Dictionary of Law
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guarantee :: legal definition


Guarantee - 1) v. to pledge or agree to be responsible for another's debt or contractual performance if that other person does not pay or perform. Usually, the party receiving the guarantee will first try to collect or obtain performance from the debtor before trying to collect from the one making the guarantee (guarantor). 2) the promise to pay another's debt or fulfill contract obligations if that party fails to pay or perform. 3) n. occasionally, the person to whom the guarantee is made. 4) a promise to make a product good if it has some defect.

See also: guarantor and Related Law Terms ↓


Related Law Terms

abstract of judgment :: n. a written summary of a judgment which states ho ... aying the debt. See also: levy lien
abuse of discretion :: n. a polite way of saying a trial judge has made s ... partner's realistic ability to pay.
account stated :: n. a statement between a creditor or the person to ... ending on the state. See also: debt
adjuster :: n. an employee (usually a non-lawyer) of an insura ... e company in approving settlements.
admission against interest :: n. an admission of the truth of a fact by any pers ... earsay. See also: admission hearsay
adverse party :: n. the opposite side in a lawsuit. Sometimes when ... the court rules the will was legal.
agency :: n. the relationship of a person (called the agent) ... ondeat superior scope of employment
anticipatory breach :: n. when a party to a contract repudiates (reneges ... perform. See also: breach contract
appearance :: n. the act of a party or an attorney showing up in ... neral appearance special appearance
bankruptcy :: n. a federal system of statutes and courts which p ... y proceedings trustee in bankruptcy
bilateral contract :: n. an agreement in which the parties exchange prom ... also: contract unilateral contract
breach :: 1) n. literally, a break. A breach may be a failur ... breach of trust breach of warranty
consideration :: n. 1) payment or money. 2) a vital element in the ... t of a promise). See also: contract
contract :: 1) n. an agreement with specific terms between two ... n oral contract unilateral contract
contribution :: n. 1) donation to a charity or political campaign. ... f $3,000 from each of his partners.
contributory negligence :: n. a doctrine of common law that if a person was i ... : comparative negligence negligence
corporation :: n. an organization formed with state governmental ... ation public corporation securities
covenant :: 1) n. a promise in a written contract or a deed of ... o compete deed restrictive covenant
default :: 1) n. failure to respond to a summons and complain ... default judgment notice of default
discharge in bankruptcy :: n. an order given by the bankruptcy judge, at the ... red creditors. See also: bankruptcy
domicile :: n. the place where a person has his/her permanent ... where its headquarters is located.
estoppel :: n. a bar or impediment (obstruction) which preclud ... pel equitable estoppel estop laches
executive clemency :: n. the power of a President in federal criminal ca ... ernor. See also: commutation pardon
fictitious defendants :: n. when a party suing (plaintiff) is not sure if h ... are not permitted in federal cases.
fraud :: n. the intentional use of deceit, a trick or some ... audulent conveyance intrinsic fraud
garnish :: v. to obtain a court order directing a party holdi ... ed. See also: garnishee garnishment
grace period :: n. a time stated in a contract in which a late pay ... the contract, i.e. your insurance.
guest :: n. 1) in general, a person paying to stay in a hot ... ce. See also: guest statute invitee
hearsay rule :: n. the basic rule that testimony or documents whic ... interest dying declaration hearsay
indenture :: n. a type of real property deed in which two parti ... bind a person to work for another.
independent contractor :: n. a person or business which performs services fo ... ue independence. See also: employee
information and belief :: n. a phrase often used in legal pleadings (complai ... nswer complaint declaration perjury
insolvency :: n. 1) the condition of having more debts (liabilit ... the property. See also: bankruptcy
insurance :: n. a contract (insurance policy) in which the insu ... t clause Workers' Compensation Acts
joint and several :: adj. referring to a debt or a judgment for neglige ... ution contributory negligence joint
joint liability :: n. when two or more persons are both responsible f ... See also: joinder joint and several
judicial foreclosure :: n. a judgment by a court in favor of foreclosure o ... deed of trust foreclosure mortgage
liability :: n. one of the most significant words in the field ... bility joint tortfeasors negligence
libel :: 1) n. to publish in print (including pictures), wr ... libel per se public figure slander
maker :: n. 1) the person who signs a check or promissory n ... : check payee payor promissory note
mechanic's lien :: n. the right of a craftsman, laborer, supplier, ar ... ll sue for the debt. See also: lien
negligence :: n. failure to exercise the care toward others whic ... gence per se res ipsa loquitur tort
nominee :: n. 1) a person or entity who is requested or named ... ic office. See also: agent executor
notice :: n. 1) information, usually in writing in all legal ... Thirty-day notice three-day notice
offset :: 1) n. also called a "setoff," the deduction by a d ... e also: counterclaim defense setoff
option :: n. a right to purchase property or require another ... ng or upon expiration of the lease.
party :: n. 1) one of the participants in a lawsuit or othe ... y real party in interest respondent
personal services :: n. in contract law, the talents of a person which ... his/her unique ability and product.
product liability :: n. the responsibility of manufacturers, distributo ... e known. See also: warrant warranty
promise :: 1) n. a firm agreement to perform an act, refrain ... so: consideration contract covenant
promissory estoppel :: n. a false statement treated as a promise by a cou ... lue of his work. See also: estoppel
promissory note :: n. a written promise by a person (variously called ... lso: interest obligee obligor usury
real party in interest :: n. the person or entity who will benefit from a la ... st is the beneficiary of the trust.
reasonable reliance :: n. particularly in contracts, what a prudent perso ... the following:." See also: contract
receiver :: n. 1) a neutral person (often a professional trust ... owing they were obtained illegally.
several liability :: n. referring to responsibility of one party for th ... n joint and several promissory note
specific performance :: n. the right of a party to a contract to demand th ... artwork. See also: contract prayer
statute of limitations :: n. a law which sets the maximum period which one c ... ies. See also: demurrer laches toll
subpena duces tecum :: : (suh-pea-nah dooh-chess-take-uhm or dooh-kess-ta ... ng a court order. See also: witness
subrogation :: n. assuming the legal rights of a person for whom ... also: negligence subrogee subrogor
surety :: n. a guarantor of payment or performance if anothe ... or entity. See also: bond guarantor
unconscionable :: adj. referring to a contract or bargain which is s ... ee also: adhesion contract contract
unilateral contract :: n. an agreement to pay in exchange for performance ... consideration contract performance
unjust enrichment :: n. a benefit by chance, mistake or another's misfo ... perty. See also: constructive trust

Popular Law Searches

legal definition ministerial act :: n. an act, particularly of a governmental employee ... exercising any individual judgment.
chancery legal definition :: n. a court that can order acts performed. Today ch ... ts in most states. See also: equity
testamentary disposition legal definition :: n. how the terms of a will divide the testator's ( ... named beneficiaries. See also: will
contract of sufferance :: n. a "hold-over" tenancy after a lease has expired ... y tenancy at will unlawful detainer
forthwith legal definition :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
forthwith definition legal :: adv. a term found in contracts, court orders and s ... mediacy, with no excuses for delay.
what is to wit in a legal contract :: prep. that is to say. Example: "the passengers in ... tty Bumgartner and Sherry Younger."
mirror wills legal definition :: n. the wills of a husband and wife which are ident ... d each names the other as executor.
clean hands doctrine latin :: n. a rule of law that a person coming to court wit ... ices. See also: affirmative defense
sine qua non only relates to contract law :: (see-nay kwah nahn) prep. Latin for "without which ... qua non of the injury to Playmate.

Other Law Terms - G

gag order :: n. a judge's order prohibiting the attorneys and t ... st day in office, January 22, 1993.
garnish :: v. to obtain a court order directing a party holdi ... ed. See also: garnishee garnishment
garnishee :: n. a person or entity, quite often a bank or emplo ... ourt. See also: garnish garnishment
garnishment :: n. the entire process of petitioning for and getti ... heriff. See also: garnish garnishee
gender bias :: n. unequal treatment in employment opportunity (su ... statutes. See also: discrimination
general appearance :: n. an attorney's representation of a client in cou ... case. See also: special appearance
general counsel :: n. the chief attorney for a corporation, who is pa ... e counsel." See also: house counsel
general damages :: n. monetary recovery (money won) in a lawsuit for ... s exemplary damages special damages
general denial :: n. a statement in an answer to a lawsuit or claim ... anguage. See also: answer complaint
general partner :: n. 1) usually one of the owners and operators of a ... ted partnership partner partnership
general plan :: n. a plan of a city, county or area which establis ... uture development. See also: zoning
generation skipping :: adj., adv. referring to gifts made through trusts ... to a grandchild without a gift tax.
gift :: n. the voluntary transfer of property (including m ... ift tax unified estate and gift tax
gift in contemplation of death :: n. (called a gift causa mortis by lawyers showing ... ift tax unified estate and gift tax
gift tax :: n. federal tax on large gifts. Gifts to members of ... ance in gift tax planning is vital.
go bail :: v. slang for putting up the bail money to get an a ... arrest or pending trial or appeal.
good cause :: n. a legally sufficient reason for a ruling or oth ... od cause shown, the court orders:."
good faith :: n. honest intent to act without taking an unfair a ... plied to all kinds of transactions.
Good Samaritan rule :: n. from a Biblical story, if a volunteer comes to ... a lawsuit for millions of dollars.
good title :: n. ownership of real property which is totally fre ... or deed of trust on the property).