This is an agreement where the guarantor provides collateral to ensure the satisfaction of the debt of another or perform the responsibilities of another in the event that the debtor fails to do so. In this agreement, there is a separate and distinct contract as opposed to a joint undertaking with a principal.
Guaranty
This is an agreement where the guarantor provides collateral to ensure the satisfaction of the debt of another or perform the responsibilities of another in the event that the debtor fails to do so. In this agreement, there is a separate and distinct contract as opposed to a joint undertaking with a principal.
