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surety |
Also found in: Legal, Financial, Wikipedia | 0.06 sec. |
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surety 1. a person who assumes legal responsibility for the fulfilment of another's debt or obligation and himself becomes liable if the other defaults 2. security given against loss or damage or as a guarantee that an obligation will be met 3. stand surety to act as a surety How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| ? Mentioned in | ? References in periodicals archive | |
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170 charitable contribution deductions and the use of
an exempt entity as an accommodation party in a transaction that will
shift tax benefits. * The accommodation party must hold legal title to the property
[during the transaction] and also hold other indicia of ownership that
are recognized under commercial law, such as a contract for deed. On the taxpayer's behalf, an accommodation party purchased
property intended to be replacement property for the park property. |
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