guarantor of payment

One who guarantees payment of a negotiable instrument when it is due without the holder first seeking payment from another party.

• A guarantor of payment is liable only if “payment guaranteed” or equivalent words are added to the guarantor’s indorsement. [Cases: Guaranty 35, 45, 77.]


专业法律词汇 词条贡献者
译者亚明,毕业于国内一流的高级翻译学院,擅长翻译各种与网络安全、隐私和数据保护相关的法律文件。
Scroll to Top