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Simple English definitions for legal terms

cosurety

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A quick definition of cosurety:

Term: COSURETY

Definition: A cosurety is a person who shares the responsibility of paying off someone else's debt or fulfilling their obligation with another person. This means that if the person who owes the debt or obligation cannot pay, the cosureties are both responsible for paying it off. A cosurety is different from a guarantor because they are directly liable, and they often do not receive any compensation for assuming this responsibility.

A more thorough explanation:

A cosurety is a person who shares the cost of performing suretyship obligations with another. In other words, a cosurety is someone who agrees to be responsible for paying off someone else's debt or fulfilling their obligations along with another person.

For example, let's say that John and Jane are both cosureties for a loan that their friend, Bob, took out. If Bob is unable to pay back the loan, both John and Jane are responsible for paying it off. They share the cost of fulfilling the obligation as cosureties.

Another example could be in a construction project where multiple contractors are hired to complete different parts of the project. Each contractor may have a cosurety who shares the cost of fulfilling their obligations in case they are unable to complete their part of the project.

These examples illustrate how a cosurety is someone who shares the responsibility of fulfilling an obligation with another person. They are both equally responsible for fulfilling the obligation, and if one person is unable to do so, the other person must step in to cover the cost.

costs to abide event | cosuretyship

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12:28
happens to the best of us
12:28
@UnsuitableMaliciousHedgehog: that’s so fucking sick
rough night and morning with ex :/. we broke up but we live together
shaquilleoatmeal
12:29
damn ;/ it is break up season dawg, i'm sorry you're going through that
12:29
it really is breakup season
shaquilleoatmeal
12:29
i lived with my ex for 3 months after we broke up and it was brutal. If you can move out quicker rather than later
thanks shaq! i just needed some input from people who are looking from the outside in
im gonna pack up my stuff and leave for a few days when i get off work
12:31
sometimes I think about things my ex said and did to me and a year later it still makes me so sad that I ever let myself be treated that way
shaquilleoatmeal
12:32
yee bud clear your head how you need, shit sometimes even just driving with no destination and some sad ass music can get you through this
shaquilleoatmeal
12:32
you grow through what you go through bunny, you know for the next relationship what you deserve
I want to run you guys through a scenario to see what yall think. Go to off topic for the one time lol
12:34
gotchu
hello friends
13:09
Yo
lawguy we're nearly stats twins :D
13:13
I saw that, and I saw you got the Georgetown interview invite yesterday too! Goodluck!
you too haha, i was super surprised to have received one so early not gonna lie
i heard the group interview is really chill and I'm kinda excited to do it
seems cool
13:14
Yeah, 7sage has a page that talks about the questions for each schools interview, GULC's seems unique
13:15
Idk how much of an effect it has on admissions chances but should be cool either way
ive heard the conversion rate for gulc group interview is pretty high even moreso if you have the stats
it's hard to say but i've also heard that the group interview is harder to get than the alumni interview. but who really knows tbh
im p sure they don't interview everyone and getting one this early should be a great sign!
13:16
Yeah I've heard the same ab the group interview
13:17
So maybe I'll see you in D.C. a year from now lmao
initiallaw
13:32
Speaking of stat twins kazuyamishima were exact stat twins lol
17:13
Anyone going to the UGA zoom thing on the 22nd?
17:16
My bad, 24th*
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