Guarantee
/ˌɡærənˈtiː/
Definitions
- (n.) A formal assurance that certain conditions will be fulfilled, especially the fulfillment of payment, performance, or quality.
The company gave a guarantee on the product's durability for five years.
- (v.) To provide a formal assurance or promise, especially regarding the fulfillment of an obligation or payment.
The bank guaranteed the loan for the small business.
Forms
- guarantees
- guaranteed
- guaranteeing
Related terms
See also
Commentary
In drafting, distinguish between guarantees as a primary obligation versus ancillary assurances to avoid unintended liabilities.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.