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Guarantee

Bouvier's Law Dictionary and Concise Encyclopedia · John Bouvier; revised by Francis Rawle · 1914

Bouvier's Law Dictionary and Concise Encyclopedia

He to whom a guaranty is made. Also, to make oneself responsible for the obligation of another. The guarantee is entitled to receive payment, in the first place, from the debtor, and, secondly, from the guarantor. He must be careful not to give time, beyond that stipulated in th'e original agreement, - to the debtor, without the consent of the guarantor. The guarantee should, at the instance of the guarantor, bring an action against the principal for the recovery of the debt; King v. Baldwin, 17 Johns. (N. Y.) 384, 8 Am. Dec. 415; Cope v. Smith, 8 S. & R. (Pa.) 116, 11 Am. Dec. 582; 2 Bro. C. C. 579, 582. But the mere omission of the guarantee to sue the R. (Pa.) 112, 11 Am. Dec. 582. See Quab-