guaranty


1guar·an·ty

noun \ˈger-ən-tē, ˈgär-, ˈga-rən-\

law : a formal promise to pay a debt

: something that protects or maintains the existence of something else

plural guar·an·ties

Full Definition of GUARANTY

1
:  an undertaking to answer for the payment of a debt or the performance of a duty of another in case of the other's default or miscarriage
2
:  guarantee 3
3
:  guarantor
4
:  something given as security :  pledge
5
:  the protection of a right afforded by legal provision (as in a constitution)

Examples of GUARANTY

  1. <this fridge comes with a money-back guaranty of complete customer satisfaction>
  2. <couples exchange engagement rings as a symbolic guaranty that they will marry>

Origin of GUARANTY

Anglo-French garantie, from garantir, warentir to protect, warrant, guarantee — more at warrant
First Known Use: 1592

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

2guaranty

verb
guarantiedguaranty·ing

Definition of GUARANTY

transitive verb
:  guarantee

Examples of GUARANTY

  1. <a house guarantied against termite damage>
  2. <a watch guarantied to be water-resistant to a depth of 100 feet>

First Known Use of GUARANTY

1737

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

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