guaranty

¹guar·an·ty

noun \ˈger-ən-tē, ˈgär-, ˈga-rən-\

plural guar·an·ties

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

Related to GUARANTY

Synonyms: bond, contract, covenant, deal, guarantee, surety, warranty

Related Words: oath, pledge, troth, vow, word; accord, bargain, compact, concordat, convention, pact, treaty; assurance, insurance, seal; bail, deposit, pawn, security

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Other Economics Terms

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