Guarantor Definition Is One

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Posted on October 23, 2018 at 09:20 AM

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guarantor | Definition of guarantor in English by Oxford ...
‘In Ohio a guarantor is a surety and has the statutory and common law rights and obligations discussed above under Accommodation Party.’ ‘The second defendants are sued as guarantors of the cargo's proportion of general average, but the proceedings have not been served on them.’
What is a Guarantor? - Definition from Insuranceopedia
A guarantor is a third party in a contract who promises to pay for certain liabilities if one of the other parties in the contract defaults on their obligations.
Guarantor legal definition of guarantor - Legal Dictionary
A guarantor differs from a surety in this, that the former cannot be sued until a failure on the part of the principal, when sued; while the latter may be sued at the same time with the principal. 10 Watts, 258.

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