| 单词 | guarantee |
| 释义 | guarantee guarantee a collateral promise to answer for the debt or obligation of another. A guarantee is a secondary obligation, becoming operative only where the principal debtor is in DEFAULT; because it is a sec- ondary obligation, should the primary obligation be unlawful or invalid or unenforceable, the guarantor or SURETY cannot be com- pelled to make payment under the guarantee. A guarantee should be distinguished from an INDEMNITY, which is a primary obligation to compensate the loss of another; in the latter case the unenforceabili- ty of the principal debt will not render the indemnity unenforceable. In Scotland, the same relationship is regulated by the institution of caution (pronounced 'cayshun'). Proper caution is the term used where the cautioner is expressly bound as guarantor to the creditor. The term improper caution is used when the cautioner is bound as a co-obligant with the principal debtor jointly and severally to the creditor.The term is used colloquially in the UK for a statement by a manu- facturer of goods that it will undertake some responsibility such as repair or replacement. |
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