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Suretyship

An undertaking by the surety to answer for the principal debtor's obligation under specified conditions.

What does this term mean?

An undertaking by the surety to answer for the principal debtor's obligation under specified conditions.

Where does it appear in practice?

Formal requirements, spousal consent, and liability limits are critical in practice.

Related terms

Default Sham Transaction Enforcement Proceeding

Other glossary entries

Agreed Divorce Protocol Call Detail Records Cancellation and Registration of Title Deed Case Management Order Coercive Imprisonment Consolidation Conveyance / Transfer Deed Default Defense Counsel Disclaimer of Inheritance Dissolution of Co-Ownership Duplicate / Repeated Enforcement Proceeding Ex Officio General Information Check Improvements on Real Property Inheritance Division Judicial Recess Limitation Period Matrimonial Property Regime Mediation Medical Malpractice Pending Property Division on Divorce Reduction Claim Reserved Share Right of First Refusal Service of Notice Sham Transaction Subdivision Suretyship Termination Transfer by Inheritance Unjust Termination