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Liability vs Guarantee - What's the difference?

liability | guarantee | Related terms |

Liability is a related term of guarantee.


As nouns the difference between liability and guarantee

is that liability is the condition of being liable while guarantee is anything that assures a certain outcome.

As a verb guarantee is

to assure that something will get done right.

liability

English

Noun

(wikipedia liability) (liabilities)
  • the condition of being liable.
  • an obligation, debt or responsibility owed to someone.
  • * 1901 , , (w, The Monkey's Paw)
    • "I was to say that Maw and Meggins disclaim all responsibility," continued the other. "They admit no liability at all, but in consideration of your son's services they wish to present you with a certain sum as compensation."
  • a handicap that holds one back.
  • the likelihood of something happening.

    • Antonyms

    * asset

    Derived terms

    * enterprise liability * secondary liability * vicarious liability

    guarantee

    English

    Noun

    (en noun)
  • Anything that assures a certain outcome.
    • Can you give me a guarantee that he will be fit for the match?
  • A written declaration that a certain product will be fit for a purpose and work correctly.
    • The cooker comes with a 5-year guarantee .
  • A person who gives such a guarantee; a guarantor.
    • (South)
  • The person to whom a guarantee is made.

    • Verb

    (d)
  • To assure that something will get done right.
  • To assume responsibility for a debt.
  • To make something certain.
    • The long sunny days guarantee a good crop.

    Synonyms

    * assure * warrant

    Related terms

    * guaranty * guarantor