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Guaranty vs Surety - What's the difference?

guaranty | surety | Related terms |

Guaranty is a related term of surety.


In legal|lang=en terms the difference between guaranty and surety

is that guaranty is (legal) an undertaking to answer for the payment of some debt, or the performance of some contract or duty, of another, in case of the failure of such other to pay or perform; a warranty; a security while surety is (legal) a promise to pay a sum of money in the event that another person fails to fulfill an obligation.

As nouns the difference between guaranty and surety

is that guaranty is (legal) an undertaking to answer for the payment of some debt, or the performance of some contract or duty, of another, in case of the failure of such other to pay or perform; a warranty; a security while surety is certainty.

As a verb guaranty

is .

guaranty

English

Noun

(guaranties)
  • (legal) An undertaking to answer for the payment of some debt, or the performance of some contract or duty, of another, in case of the failure of such other to pay or perform; a warranty; a security.
  • Something serving as a security for such an undertaking.
  • * {{quote-book, year=1864, author=Various, title=The Atlantic Monthly, Volume 14, No. 85, November, 1864, chapter=, edition= citation
    • , passage=No doubt the city of New York and the State of California contain capital enough for the completion of the entire road,--would subscribe to it, too, upon sufficient guaranties . }}
  • An assurance or guarantee.
  • * {{quote-book, year=1904, author=Olive Tilford Dargan, title=Semiramis and Other Plays, chapter=, edition= citation
    • , passage=America has sent us guaranties She will demand that Maximilian Be held but as a prisoner of war. }}
  • * 1945 , , “ The Philosophical Basis of Masaryk’s Political Ideals]” in [[w:Ethics (journal), Ethics] LV, ? 4 (July 1945), page 299, right column:
    • The concept of God and immortality is for him a guaranty of this eternal difference between right and wrong.

    Related terms

    * guarantor

    References

    * *

    Verb

  • * {{quote-book, year=1742, author=Samuel Johnson, title=The Works of Samuel Johnson, Vol. 6, chapter=, edition= citation
    • , passage=His imperial majesty likewise guaranties' to the king of Prussia the perpetual possession of upper Silesia; and the king ' guaranties to the emperour the perpetual possession of upper Austria, as soon as he shall have occupied it by conquest." }}

    surety

    English

    Noun

    (wikipedia surety)
  • certainty
  • * Bible, Genesis xv. 13
    • Know of a surety , that thy seed shall be a stranger in a land that is not theirs.
  • * Sir Philip Sidney
    • For the more surety they looked round about.
  • That which makes sure; that which confirms; ground of confidence or security.
  • * Milton
    • [We] our happy state / Hold, as you yours, while our obedience holds; / On other surety none.
  • (legal) A promise to pay a sum of money in the event that another person fails to fulfill an obligation.
  • * Shakespeare
    • There remains unpaid / A hundred thousand more; in surety of the which / One part of Aquitaine is bound to us.
  • (legal) One who undertakes to pay money or perform other acts in the event that his principal fails therein.
  • * Bible, Proverbs xi. 15
    • He that is surety for a stranger shall smart for it.
  • A substitute; a hostage.
    • (Cowper)
  • Evidence; confirmation; warrant.
  • * Shakespeare
    • She called the saints to surety , / That she would never put it from her finger, / Unless she gave it to yourself.

    See also

    * surcharge * surcharged * indorsement