suretyship

noun
sure·​ty·​ship

Legal Definition of suretyship

: the contractual relationship in which a surety engages to answer for the debt or default of a principal to a third party

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Cite this Entry

“Suretyship.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/suretyship. Accessed 18 Jan. 2021.

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