suretyship


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sur·e·ty

 (sho͝or′ĭ-tē)
n. pl. sur·e·ties
1. The condition of being sure, especially of oneself; self-assurance.
2. Something beyond doubt; a certainty.
3. A pledge or formal promise made to secure against loss, damage, or default; a security.
4. One who has contracted to be responsible for another, especially one who assumes responsibilities or debts in the event of another party's default.

[Middle English surte, from Old French, from Latin sēcūritās, from sēcūrus, sure; see secure.]

sur′e·ty·ship′ n.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
References in classic literature ?
There was that suretyship for poor Riley, who had died suddenly last April, and left his friend saddled with a debt of two hundred and fifty pounds,--a fact which had helped to make Mr.
In his Precis, written in plain English, Rubin provides a readily-understandable overview of Louisiana's unique laws on mortgage, suretyship, privilege, lease financing, the Deficiency Judgement Act, the Private Works Act, and traps for the unwary under Louisiana's version of the Universal Commercial Code R.S 10:9-101.
ISLAMABAD -- The Securities and Exchange Commission of Pakistan (SECP) has issued Draft Credit and Suretyship (Conduct of Business) Rules, 2016 aiming at o consulting the stakeholders.
Release date- 15082012 - The Novosibirsk subsidiary of the Bank of Moscow has won a tender among banks participating in the programme for extending loans and granting bank guarantees under suretyship of the Novosibirsk Region Small and Medium-sized Business Development Fund.
He next presents chapters focusing on specific contracts, covering agency, bailment, gaming and wagering, sale of goods, building contracts and hire of work and skills, commercial and agricultural leases, compromise settlement, suretyship, pledge, loans, contracts with the government and other public administration, contract of partnership, and restitution (including quasi-contract).
Presumptions established to protect debtors and sureties at articles 1525 and 2335 of the Civil Code of Quebec have prevented jurists from borrowing freely from the rules of solidarity and suretyship. Where one person is undoubtedly responsible for the debt of another, even in the absence of a suretyship agreement, the author argues it should be possible to apply the law of suretyship by analogy.
Suretyship is a contract by which the surety binds himself as liable towards the creditor of another person gratuitously, or for remuneration, in the event where the person in whose favor suretyship is granted fails to perform the obligation in whole or in part.
This article discusses the inherent differences between insurance and suretyship, highlighting the distinctions that arise in claims made for defective workmanship under a CGL policy or under a surety performance bond.
JAMS rules added to Compulaw's database include Comprehensive Arbitration Rules and Procedures, Employment Arbitration Rules and Procedures, International Arbitration Rules, Optional Arbitration Appeals Procedures, Suretyship Disputes Rules and Procedures, and Streamlined Arbitration Rules and Procedures.
From a cross neighbour, and a sullen wife, A pointless needle, and a broken knife; From suretyship, and from an empty purse, A smoaky chimney, and jolting horse; From a dull razor, and an aking head; From a bad conscience, and a buggy bed, A blow upon the elbow and the knee: From each of these, good Lord, deliver me.
He bases the offer on two policy provisions: the discovery period and the loss under prior insurance (superseded suretyship) provision.