Wednesday Word Of The Week – Guaranty

guaranty is an undertaking to meet a payment or other obligation on behalf of another. It’s usually made in writing. More than one are known as guaranties and they’re made by a guarantor.

guaranty can also be something used as security for a guaranty.  So a guaranty should, in theory, guarantee that the guaranty is met.

Confused yet? If so, don’t worry about it and stick with guarantee. That can be used instead of guaranty as well as meaning a formal promise or assurance.

Advertisement

Thank you for leaving a comment!

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.