Guaranty Of Collection

 Guaranty of Collection of Promissory Note
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State:
Multi-State
Control #:
US-01114BG
Instant Download
Available formats: Word | Rich Text

Description

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. A guaranty of the payment of a debt is different from a guaranty of the collection of the debt. A guaranty of payment is absolute while a guaranty of collection is conditional.

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