Guarantee Guar`an*tee", n.; pl. {Guarantees}. [For guaranty, prob. influenced by words like assignee, lessee, etc. See {Guaranty}, and cf. {Warrantee}.] 1. In law and common usage: A promise to answer for the payment of some debt, or the performance of some duty, in case of the failure of another person, who is, in the first instance, liable to such payment or performance; an engagement which secures or insures another against a contingency; a warranty; a security. Same as {Guaranty}. [1913 Webster]

His interest seemed to be a guarantee for his zeal. --Macaulay. [1913 Webster]

2. One who binds himself to see an undertaking of another performed; a guarantor. --South. [1913 Webster]

Note: Guarantor is the correct form in this sense. [1913 Webster]

3. (Law) The person to whom a guaranty is made; -- the correlative of guarantor.

Syn: {Guarantee}, {Warranty.}

Usage: A guarantee is an engagement that a certain act will be done or not done in future. A warranty is an engagement as to the qualities or title of a thing at the time of the engagement. [1913 Webster]

The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • guarantees — 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

  • Guarantees —   (payment)   Refer instead to Payment guarantees.   (performance)   Refer instead to Performance guarantees …   International financial encyclopaedia

  • guarantees — guar·an·tee || ‚gærÉ™n tɪː n. security; warranty; pledge; assurance v. vouch for; give a guarantee; give a warranty; promise, assure …   English contemporary dictionary

  • Guarantees, Law of — • A law passed by the senate and chamber of the Italian parliament, 13 May, 1871, concerning the prerogatives of the Holy See, and the relations between State and Church in the Kingdom of Italy Catholic Encyclopedia. Kevin Knight. 2006 …   Catholic encyclopedia

  • Guarantees, Law of — ▪ Italy [1871] Italian  Legge Delle Guarentigie        (May 13, 1871), attempt by the Italian government to settle the question of its relationship with the pope, who had been deprived of his lands in central Italy in the process of national… …   Universalium

  • guarantees for peace — promises for peace, assurances of peace, pledges for peace …   English contemporary dictionary

  • guarantees for security — something which shows proof of that one intends to carry out one s agreements …   English contemporary dictionary

  • Guarantees (received) zero risk weighting —   In finance this normally means:   (counter)guaranteed by local country regional authorities.   (counter)guaranteed by central governments zone A, including credit insured items.   (counter)guaranteed by central governments zone B, including… …   International financial encyclopaedia

  • Payment guarantees —   Guarantees issued on the strength of which the bank s customer is able to receive advance payment for a certain project. The bank can refund the advance payment if the customer does not complete the project in accordance with the contract… …   International financial encyclopaedia

  • Performance Guarantees —   Guarantees issued concerning the due fulfilment on the part of a customer of his obligations to deliver a contracted performance. The amount of the performance guarantee is generally 10% of the contract amount …   International financial encyclopaedia

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