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LSDefine

Simple English definitions for legal terms

guarantee

Read a random definition: census

A quick definition of guarantee:

A guarantee is a promise made to someone who will receive payment if the person who owes the money cannot pay it back. The guarantee has the right to be paid before anyone else, including the person who lent the money. Sometimes, people use the word guaranty instead of guarantee, but they mean the same thing. It's important to understand the context of the word to know what it means.

A more thorough explanation:

A guarantee is a person or entity that is promised payment as a creditor. This means that if someone owes money to a creditor, and that creditor has a guarantee, the guarantee has the right to receive payment before the creditor does.

For example, let's say that John owes $100 to a bank. The bank has a guarantee from Jane, which means that if John doesn't pay back the $100, Jane has the right to receive payment before the bank does.

Another example could be a landlord who requires a guarantee from a tenant. This means that if the tenant doesn't pay rent, the landlord can go to the guarantee to receive payment.

Overall, a guarantee is a way to ensure that someone will receive payment if a debt is not paid. It is important to understand the context of the term to fully understand its meaning.

Guam, Puerto Rico, and the U.S. Virgin Islands | guaranteed reservation

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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