...between two or more persons, founded upon a sufficient consideration, by which one person promises to answer for the payment of some debt or the performance of some act in case of the failure of some other person, who, in the first instance, ia liable for such payment...

...the " principal." n A contract of guaranty is a collateral undertaking by one person to be answerable for the payment of some debt or the performance of some duty or contract for another person who stands first bound to pay or perform. The person becoming so bound...

...the accused, and in proper cases return indictments or accusations against such accused. GUARANTY. A promise to answer for the payment of some debt,...duty, in case of the failure of another person, who, in the first instance, is liable to such payment or performance. HABEAS CORPUS. A writ directed to...

...approved In Carroll Savings Bank v. Strother, 22 SC 555, and Ruberg v. Brown, 71 SC 293, 51 SE 98, Is : "A promise to answer for the payment of some...duty in case of the failure of another person who Is himself, In the first Instance, liable to such payment or performance." The debt or duty may be either...

...approved in Carroll Savings Bank v. Strother, 22 SC 555, and Ruberg v. Brown, 71 S. 43. 293, 51 SE 98, is: "A promise to answer for the payment of some debt or the performance of some duty in ease of the failure of another person who is himself, in the first instance, liable to such payment...

...default or miscarriages of another person." The most usual form of such a promise is a guarantee—a promise to answer for the payment of some debt, or the performance of 1 Caton v. Caton (1867). LB 2 HL 127. 2 Lenntx v. Jiroum (18.">2), 12 CB Ml. See Jones v. Victoria...

...another in case he does not pay it. Shaw, CJ, Dolo v. Young, '¿4 L'ick. (Mass.) 2.ï2. A provision to answer for the payment of some debt, or the performance of some duty in the case of the failure of some person who, in the first instance, is liable for such payment or performance...

...specified character; it is something .given to a person to prevent his suffering damage, while a guaranty is a promise to answer for the payment of some debt or the performance of some duty in the case of the failure of another person who is himself in the first -instance liable for such payment...

...illustration of a guaranty. A guaranty is defined as "a collateral undertaking to 'pay a debt or perform a duty in case of the failure of another person who is in the first instance liable to such payment or performance." (Am. and Eng. Ency. of Law.) Suretyship differs...

...profits to pay them. See 31 Mich. 76, 18 Am. Rep. 156. Guarantor. The maker of a guaranty. Guaranty. A promise to answer for the payment of some debt,...case of the failure of another person, who is in the first instance liable. See 12 Smedes & M. (Miss.) 595, 51 Am. Dec. 124. Guaranty insurance. Insurance...