| Guaranty | n.; pl. Guaranies [ OF. guarantie, garantie, F. garantie, OF. guarantir, garantir, to warrant, to guaranty, E. garantir, fr. OF. guarant, garant, a warranter, F. garant; of German origin, and from the same word as warranty. See Warrant, and cf. Warranty, Guarantee. ] In law and common usage: An undertaking to answer for the payment of some debt, or the performance of some contract or duty, of another, in case of the failure of such other to pay or perform; a guarantee; a warranty; a security. [ 1913 Webster ] |
| Guaranty | v. t. [ imp. & p. p. Guarantied p. pr. & vb. n. Guarantying. ] [ From Guaranty, n. ] In law and common usage: To undertake or engage that another person shall perform (what he has stipulated); to undertake to be answerable for (the debt or default of another); to engage to answer for the performance of (some promise or duty by another) in case of a failure by the latter to perform; to undertake to secure (something) to another, as in the case of a contingency. See Guarantee, v. t. [ 1913 Webster ] ☞ Guaranty agrees in form with warranty. Both guaranty and guarantee are well authorized by legal writers in the United States. The prevailing spelling, at least for the verb, is guarantee. [ 1913 Webster ] |
| Warranty | n.; pl. Warranties [ OF. warantie, F. garantie. See Warrant, n., and cf. Guaranty. ] [ 1913 Webster ] 1. (Anc. Law) A covenant real, whereby the grantor of an estate of freehold and his heirs were bound to warrant and defend the title, and, in case of eviction by title paramount, to yield other lands of equal value in recompense. This warranty has long singe become obsolete, and its place supplied by personal covenants for title. Among these is the covenant of warranty, which runs with the land, and is in the nature of a real covenant. Kent. [ 1913 Webster ] 2. (Modern Law) An engagement or undertaking, express or implied, that a certain fact regarding the subject of a contract is, or shall be, as it is expressly or impliedly declared or promised to be. In sales of goods by persons in possession, there is an implied warranty of title, but, as to the quality of goods, the rule of every sale is, Caveat emptor. Chitty. Bouvier. [ 1913 Webster ] 3. (Insurance Law) A stipulation or engagement by a party insured, that certain things, relating to the subject of insurance, or affecting the risk, exist, or shall exist, or have been done, or shall be done. These warranties, when express, should appear in the policy; but there are certain implied warranties. Bouvier. [ 1913 Webster ] 4. Justificatory mandate or precept; authority; warrant. [ R. ] Shak. [ 1913 Webster ] If they disobey precept, that is no excuse to us, nor gives us any warranty . . . to disobey likewise. Kettlewe&unr_;&unr_;. [ 1913 Webster ] 5. Security; warrant; guaranty. [ 1913 Webster ] The stamp was a warranty of the public. Locke. [ 1913 Webster ] Syn. -- See Guarantee. [ 1913 Webster ] |
