A guaranty is a contract under which one person agrees to pay a debt or perform a duty if the other person who is bound to pay the debt or perform the duty fails to do so. Usually, the party receiving the guaranty will first try to collect or obtain performance from the debtor before trying to collect from the one making the guaranty (guarantor).
Guaranty Vs Guarantee
Category:
State:
New York
Control #:
NY-820LT
Format:
Word;
Rich Text
Instant download
Description
This Guaranty or Guarantee of Payment of Rent contract is an agreement between a guarantor for the tenant and the tenant's landlord. The guarantor agrees to pay the rent if the tenant is not able to pay. The guaranty contract sets out the details of this agreement, the trigger for the guarantor's payment, etc.
How to fill out New York Guaranty Or Guarantee Of Payment Of Rent?
In terms of filling out New York Guaranty or Guarantee of Payment of Rent, you probably imagine an extensive procedure that consists of getting a suitable sample among numerous similar ones and then having to pay out an attorney to fill it out to suit your needs. Generally speaking, that’s a sluggish and expensive choice. Use US Legal Forms and select the state-specific form in just clicks.
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