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LSDefine

Simple English definitions for legal terms

guaranty company

Read a random definition: expressio unius est exclusio alterius

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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Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
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