- guarantor`s liability
- legal responsibility of a guarantor for the repayment of another's debt
English contemporary dictionary. 2014.
guarantor`s liability
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liability — The word is a broad legal term. Mayfield v. First Nat. Bank of Chattanooga, Tenn., C.C.A.Tenn., 137 F.2d 1013, 1019. It has been referred to as of the most comprehensive significance, including almost every character of hazard or responsibility,… … Black's law dictionary
liability — The word is a broad legal term. Mayfield v. First Nat. Bank of Chattanooga, Tenn., C.C.A.Tenn., 137 F.2d 1013, 1019. It has been referred to as of the most comprehensive significance, including almost every character of hazard or responsibility,… … Black's law dictionary
liability — li·a·bil·i·ty /ˌlī ə bi lə tē/ n pl ties 1: the quality or state of being liable 2: something for which one is liable: as a: a financial obligation: debt tax liability the bonds … Law dictionary
absolute liability — Liability for an injury resulting to another where no account is taken of the standard of care exercised, often called insurer s liability. 38 Am J1st Negl § 4. Criminal liability of which intent not an element. 21 Am J2d Crinn L § 91. Liability… … Ballentine's law dictionary
contingent liability — a liability which will only arise upon the happening of a certain event, for example, the guarantor of a loan being asked to honour the guarantee if the borrower defaults. Glossary of Business Terms A debt or obligation that becomes a liability… … Financial and business terms
co-guarantor(s) — A guarantor undertakes that he will repay a debt incurred by another person or company to a bank or other creditor, and the bank or other creditor can require him to pay the outstanding amount if that person cannot or will not pay their… … Law dictionary
primary liability — The liability of the person who, by the terms of the instrument of obligation, is absolutely required to pay the same. 11 Am J2d B & N § 525. The liability of a maker or principal, as distinguished from that of a guarantor, indorser, or other… … Ballentine's law dictionary
limited guaranty — A guaranty agreement that includes a statement that limits the guarantor s liability to the bank to a defined amount. American Banker Glossary … Financial and business terms
conditional guaranty — A guaranty which imposes as a condition of the guarantor s liability, the happening of some contingent event other than the default of the principal debtor or the performance of some act on the part of the obligee. 24 Am J1st Guar § 16 … Ballentine's law dictionary
SURETYSHIP — (Heb. עַרְבוּת), one person s undertaking to fulfill the obligation of another toward a third person (called the arev, ḥayyav, and nosheh, respectively). In Jewish law fulfillment of an obligation is secured primarily through the assets of the… … Encyclopedia of Judaism
