guarantor


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guarantor

a person who gives or is bound by a guarantee or guaranty; surety
References in periodicals archive ?
In Stratmore, (14) the Third Circuit, in reversing the Tax Court and other circuit precedent, held that interest accrued and paid after a corporate debtor's discharge in bankruptcy is deductible by the guarantor under Sec.
In this instance the nonguarantor/owner is related to the second guarantor.
No such notification by either lender or borrower is required if the borrower takes out further loans within the upper limit initially set by the borrower and lender, often without the clear knowledge of the guarantor.
He argued that petitioner deposited Rs 5 million in accountability court No 1 Islamabad on November 21, 2017 as guarantor of Ishaq Dar.
Hearing the petition filed by Dar's guarantor Ahmed Ali Qadoosi against the judgment of the accountability court, the IHC granted a 24-hour stay on the order, a day after the investigation officer of the National Accountability Bureau (NAB) submitted details of the guarantor's movable properties to the accountability court.
As the hearing began, the guarantor of Finance Minister, Ahmed Ali Qudoosi informed the court that Mr Dar needed three to four weeks to return from abroad due to his heart treatment.
A guarantor does not request credit, by executing a guarantee, but merely promises to pay another persons debt, or perform another persons obligations under a contract in the event of default.
A landlord looks for a solvent entity or person to have some real liability when a tenant remains in place without paying rent and the good guy guarantor is just that person.
Also, the primary residence of a guarantor cannot be foreclosed on and auctioned off in order to pay off the principal debtor's loan, unless the guarantor has put up his or her house as security for the debtor's loan.
The guarantor argued that, in line with existing case law, the permission to carry out these works had increased the burden of obligation upon the tenant and, therefore, as the guarantor was guaranteeing the tenant's obligations, the burden upon the guarantor had in turn increased.
the obligation of a guarantor is incidental to the obligation of the principal debtor.