GUARANTOR

GUARANTOR

GUARANTOR guarantor. One who makes a guaranty or gives security for a debt. ? While a surety’s liability begins with that of the principal, a guarantor’s liability does not begin until the principal debtor is in default. Cf. SURETY. [Cases: Guaranty 29, 33.] ¡°A guarantor either guarantees payment or collection, depending on the words used. […]

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