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.]

---

词条贡献者

资深译员姚坚，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，专注翻译各种与私募资本有关的法律文件。