LSDefine

Simple English definitions for legal terms

continuing guaranty

Read a random definition: concilium regis

A quick definition of continuing guaranty:

A continuing guaranty is a promise made by someone to pay a debt or perform a duty if another person fails to do so. This type of guaranty applies to a series of transactions or an ongoing relationship, rather than just one specific instance. It is important to have this promise in writing and it is usually used in finance and banking contexts.

A more thorough explanation:

A continuing guaranty is a type of guarantee in which a person promises to pay a debt or perform a duty if another person fails to do so. This type of guarantee applies to a course of dealing for an indefinite time or by a succession of credits.

John guarantees to pay all of the debts that his friend Tom incurs with a particular credit card company. This is a continuing guaranty because it applies to a succession of credits.
Samantha guarantees to pay the rent for her sister's apartment for the next year. This is also a continuing guaranty because it applies to an indefinite time period.

These examples illustrate how a continuing guaranty can be used to provide ongoing financial support for another person. The guarantor is responsible for paying the debt or performing the duty if the primary obligor fails to do so. This type of guarantee is often used in business and financial contexts.

continuing covenant | continuing harm

General

General chat about the legal profession.

General >T14 Off Topic

👍 Chat vibe: 0 👎

babycat

15:14

That was actually it but I was mean to him for like two days about it anyways

Dkk

15:14

Yeah, I am going to bed. I am starting to feel tired. Goodnight.

renard99

15:14

Goodnight DK

Dkk

15:14

Thank you. Goodnight to you too.

babycat

15:14

don't let the bedbugs bite

Dkk

15:14

Yeah cus bed bugs can carry aids.

BulbasaurNoLikeCardio

15:14

The whole having a group of hot chick friends you can flirt with while going out is great. Makes for a fun and safer environment when drinking.

babycat

15:15

I love my hot chick friends. Don't know where I would be without them

renard99

15:15

Crazy story, I had dinner with the dad of a friend of mine and he just openly went on Tinder in front of me and the other guys. Later my mom ran into him with another woman (not his wife/friend's mom) and he got very uncomfortable and never texted her again

renard99

15:15

I can't imagine what it's like being a cheater or like a serial dater. Shit seems so nervewracking

BulbasaurNoLikeCardio

15:16

My wife and I have great and open communication but one night she kept asking me why this girl is blowing up my phone with messages/pictures so I showed her... she got a new puppy and got drunk so had her puppy doing a fashion shoot at 11pm.

babycat

15:16

Awwww

BulbasaurNoLikeCardio

15:17

I need more hot friends to hang with, the town we are in sucks butt for it and everyone seems shifty/flaky.

glovediedthisishismom

15:17

whoever was asking for an AU wave earlier fished their wish

babycat

15:18

I keep my dating very clean and above board. No overlaps, no ambiguities. If you want to go into some sort of public office in the future it's good to be smart about things like that

babycat

15:18

So many politicians have sex scandals and that's how they get blackmailed and other people have power over them. I mean of course there are ethical and emotional issues too but it's literally just smart to not be a cheater

BulbasaurNoLikeCardio

15:19

I would never go into public office as it drags in your family as well. Dating is so much easier then some people make it out to be and it is not that hard to not cheat. I would always tell my soldiers to rub one out before making a big decision so they arent acting dumb

BulbasaurNoLikeCardio

15:20

Like if more cheaters just paused and rubbed one out they would be like you know maybe ill just watch some TV

babycat

15:20

I've seen some people do a really good job keeping their family out of it. But it really is an "anything they can use against you, they will" type of vibe

babycat

15:21

Ugh I need to go work on essays bye folks

BulbasaurNoLikeCardio

15:22

I don't do anything I can be blackmailed with, I like money too much to be sketch. Have fun doing your essays and a good weekend

info-man

15:23

don't have the motivation to work on essays

BulbasaurNoLikeCardio

15:25

I got to work on essays for finals but I'm like that is a next week me problem. I am glad to be done with LS ones. I felt weird talking about myself

babycat

15:28

Bulbasaur if you weren't constrained by location I would say you should apply to Northwestern. They love applicants like you

BulbasaurNoLikeCardio

15:30

@babycat: what makes you say that?

RightPlant

15:31

sorry i already asked this and forgot to check but how much does a masters degree help for admissions? i rly want to go to northwestern or uchicago but im worried about my stats

glovediedthisishismom

15:32

some of you be so focused on the cheese you forgot about the trap

BulbasaurNoLikeCardio

15:32

I have not talked to northwestern or uchicago but the schools I did talked to said graduates are nice but they cant be hard stats to compare to others as not everyone has one

babycat

15:34

@BulbasaurNoLikeCardio: they really like non traditional applicants and older students

babycat

15:35

there are plenty of non trads who get admitted to nw with below median stats bc of their stories

LSD+ is ad-free, with DMs, discounts, case briefs & more.