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Guaranty

guaranty n

pl: -ties
[Old French garantie , from garantir to guarantee, from garant warrant]
1 : a pledge to pay another's debt or to perform another's duty in case of the other's default or inadequate performance compare letter of credit
2 : guarantee
3 : guarantor
4 : something given as security
: pledge
5 : the protection of a right afforded by legal provision (as in a constitution)


Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.