Surety
/ˈsyʊərti/
Definitions
- (n.) A person who takes responsibility for another's performance of an undertaking, such as the payment of a debt or the fulfillment of an obligation.
The surety guaranteed the loan repayment if the borrower defaulted.
- (n.) A pledge or security given to ensure the fulfillment of an obligation.
The court required a surety before releasing the defendant on bail.
Forms
- sureties
Related terms
See also
Commentary
In drafting, distinguish surety from guarantor by the extent of liability and conditions for enforcement.
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.