, literally, guarantee, security, from Old French, from Latin securitat- securitas
, from securus
secure] 1 :
a formal engagement (as a pledge) given for the fulfillment of an undertaking 2 :
one (as an accommodation party) who promises to answer for the debt or default of another NOTE: At common law a surety is distinguished from a guarantor by being immediately liable as opposed to becoming liable only upon default of the principal. Under the Uniform Commercial Code, however, a surety includes a guarantor, and the two terms are generally interchangeable.