1. The assurance that a contract or legal act will be duly carried out.
2. GUARANTY(1).
“In practice, guarantee, n. , is the usual term, seen often, for example, in the context of consumer warranties or other assurances of quality or performance. Guaranty, in contrast, is now used primarily in financial and banking contexts in the sense ”a promise to answer for the debt of another. “ Guaranty is now rarely seen in nonlegal writing, whether in G.B. or in the U.S.” Bryan A. Garner, A Dictionary of Modern Legal Usage 394 (2d ed. 1995).
3. Something given or existing as security, such as to fulfill a future engagement or a condition subsequent. [Cases: Guaranty 29.]
4. One to whom a guaranty is made. — Also spelled guaranty.
guarantee, vb.
1. To assume a suretyship obligation; to agree to answer for a debt or default.
2. To promise that a contract or legal act will be duly carried out.
3. To give security to.
