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Term: CAUTIONRY
Definition: Cautionry is a legal term used in Scotland. It means that someone has to promise to pay money or take responsibility for someone else's actions. It's like being a guarantor or a co-signer.
Definition: Cautionry (kay-shən-ree) is a legal term used in Scotland. It refers to the responsibility of acting as a surety for someone else.
Example: If a person wants to rent a house but doesn't have a good credit score, the landlord may ask for a cautionry. This means that someone else, usually a family member or friend, will act as a guarantor and promise to pay the rent if the tenant cannot.
Explanation: The example illustrates how cautionry works in practice. The person acting as a cautionry is taking on a legal obligation to pay the rent if the tenant defaults. This provides security for the landlord and allows the tenant to rent the property even if they don't meet the usual requirements.