Guarantee




Law · Contract

Guarantee

Contract to perform a promise or discharge a liability of a third person in case of his default. Section 126 ICA.

Type: noun Branch: Contract Level: Intermediate Jurisdiction: Global
Pronunciation: 🇺🇸 US/gɛrənˈti/ 🇬🇧 UK/gɛrənˈti/

Definition

Contract to perform a promise or discharge a liability of a third person in case of his default. Section 126 ICA.

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