- 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. - 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.
Pension Benefit Guaranty Corporation (PBGC) Pension Benefit Guaranty Corporation (PBGC) is a federal corporation that guarantees the payment of vested or nonforfeitable benefits up to
Guaranty Guaranty is the undertaking of responsibility by one party for another party’s debt or obligation to perform some specific act or duty. Although
Definition
[ n.]