guarantee

views updated May 21 2018

guar·an·tee / ˌgarənˈtē/ • n. a formal promise or assurance (typically in writing) that certain conditions will be fulfilled, esp. that a product will be repaired or replaced if not of a specified quality and durability: we offer a 10-year guarantee against rusting. ∎  something that gives a certainty of outcome: past performance is no guarantee of future results. ∎ variant spelling of guaranty. ∎ less common term for guarantor.• v. (-tees, -teed, -tee·ing) [intr.] provide a formal assurance or promise, esp. that certain conditions shall be fulfilled relating to a product, service, or transaction: the con artist guarantees that the dirt pile will yield at least 20 ounces of gold. ∎  [tr.] provide such an assurance regarding (something, esp. a product): the repairs will be guaranteed for three years | [as adj.] (guaranteed) the guaranteed bonus is not very high. ∎  [tr.] provide financial security for; underwrite: a demand that $100,000 be deposited to guarantee their costs. ∎  [tr.] promise with certainty: no one can guarantee a profit on stocks.

guaranty

views updated Jun 08 2018

guar·an·ty / ˈgarənˌtē/ (also guar·an·tee) • n. (pl. -ties) a formal pledge to pay another person's debt or to perform another person's obligation in the case of default. ∎  a thing serving as security for a such a pledge.

Guaranty

views updated Jun 11 2018

GUARANTY

As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant.

As a noun, an undertaking or promise that is collateral to the primary or principal obligation and that binds the guarantor to performance in the event of nonperformance by the principal obligor.

A guaranty is a contract that some particular thing shall be done exactly as it is agreed to be done, whether it is to be done by one person or another, and whether there be a prior or principal contractor or not.

guarantor

views updated May 21 2018

guar·an·tor / ˌgarənˈtôr; ˈgarəntər/ • n. a person, organization, or thing that guarantees something: the role of the police as guarantors of public order. ∎ Law a person or organization who provides a guaranty.

guarantee

views updated May 29 2018

guarantee party giving security XVII; act of giving security, security given XVIII; something providing security XIX. The earliest forms, garanté, garante, are perh. — Sp. garante = F. garant WARRANT; in its later use the word was identified with F. garantie GUARANTY.
Hence as vb. be a guarantee for XVIII; secure (a person or thing) in possession XIX.

guaranty

views updated May 29 2018

guaranty security, warranty, undertaking by a guarantor XVI; something that guarantees XVII. — AN. guarantie, (O)F. garantie, var. of warantie WARRANTY.

Guarantee

views updated May 18 2018

GUARANTEE

One to whom a guaranty is made. This word is also used, as a noun, to denote the contract of guaranty or the obligation of a guarantor, and, as a verb, to denote the action of assuming the responsibilities of a guarantor.