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LSDefine

Simple English definitions for legal terms

guaranty company

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A quick definition of guaranty company:

A guaranty company is a type of company that helps protect people from losing money if someone else doesn't do what they promised. For example, if someone promises to pay back a loan but doesn't, the guaranty company will pay instead. It's like having a backup plan in case something goes wrong. Other types of companies include ones that own other companies, ones that invest money for people, and ones that check if a property has any problems before someone buys it.

A more thorough explanation:

A guaranty company is a type of surety company that provides insurance to a party against a loss caused by a third party. For example, if a contractor hires a guaranty company to provide a bond for a construction project, the company will guarantee that the contractor will complete the project as agreed. If the contractor fails to do so, the guaranty company will pay for any damages or losses incurred by the project owner.

Another example of a guaranty company is a bail bondsman. If someone is arrested and cannot afford to pay bail, a guaranty company can provide a bond to the court, guaranteeing that the defendant will appear for their trial. If the defendant fails to appear, the guaranty company will be responsible for paying the full amount of the bail.

Overall, a guaranty company provides a valuable service by helping to mitigate risk for parties involved in various types of transactions.

guarantee treaty | guaranty contract

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General chat about the legal profession.
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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
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
Minus those random R decisions from UMN yesterday though right? I wonder what happened there. I don’t think I’ve seen a school start the season out with anything but As on here
almost all of my apps have been UR for 6 weeks at this point I feel exhausted waiting for them to finish
Irvine is being snobby and wont start any review until end of Nov.
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