Simple Definition of surety
law : money that you give as a guarantee that you will do what you are legally required to do (such as to appear in court)
law : someone who agrees to be legally responsible if another person fails to pay a debt or to perform a duty
: the state of being or feeling sure or certain
Full Definition of surety
2a : a formal engagement (as a pledge) given for the fulfillment of an undertaking : guaranteeb : a basis of confidence or security
3 : one who has become legally liable for the debt, default, or failure in duty of another
Examples of surety in a sentence
As sureties, they will be liable in his place.
<gave his surety that he would pay back the loan if his sister was unable to for any reason>
Origin of surety
Middle English seurte, from Anglo-French seurté, from Latin securitat-, securitas security, from securus
First Known Use: 14th century
Rhymes with surety
Legal Definition of surety
1 : a formal engagement (as a pledge) given for the fulfillment of an undertaking
2 : one (as an accommodation party) who promises to answer for the debt or default of another
Additional Notes on surety
At common law a surety is distinguished from a guarantor by being immediately liable as opposed to becoming liable only upon default of the principal. Under the Uniform Commercial Code, however, a surety includes a guarantor, and the two terms are generally interchangeable.
Origin of surety
Anglo-French seurté, literally, guarantee, security, from Old French, from Latin securitat- securitas, from securus secure
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