Definition, Meaning & Synonyms
guaranty
noun
/ˈɡɛr.ən.ti/
Definition
A formal promise or assurance by one party to be responsible for the debt or obligation of another.
Examples
- The bank requires a guaranty from a trusted individual for the loan.
- In real estate, a guaranty can protect landlords against tenant defaults.
Meaning
Guaranty refers to a commitment or assurance that a specific obligation will be fulfilled, typically by a third party.
Synonyms
- assurance
- guarantee
- pledge
- warranty
