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The guarantor is often a family member or trusted friend who has a better credit history than the person taking out the loan and the arrangement is, therefore, viewed as less risky by the lender. A guarantor loan can, consequently, enable someone to borrow either more money, or the same amount at a lower rate of interest , than they would ...
A personal guarantee is a promise made by a person or an organization (the guarantor) to accept responsibility for some other party's debt (the debtor) if the debtor fails to pay it. In the case of a personal guarantee made by an individual on behalf of another, the person who makes the personal guarantee is usually referred to as a co-signer ...
In English law, a guarantee is a contract whereby the person (the guarantor) enters into an agreement to pay a debt, or effect the performance of some duty by a third person who is primarily liable for that payment or performance. The extent of the debt that the guarantor is liable to this debt is co-extensive to the obligation of the third ...
21. Patagonia. Outdoor gear-maker Patagonia calls its lifetime warranty an “Ironclad Guarantee.” If you buy Patagonia apparel and gear for climbing, skiing, snowboarding, surfing, fly fishing ...
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The beneficiary of the guarantee must first prove the obligor's default before the guarantor becomes liable to pay. The guarantor may raise any legal defences which are available to the obligor. Thus if the contract giving rise to the underlying obligation is void, the guarantor may also avoid its obligations under the guarantee. Additionally ...
The PGA of America announced on Monday that its board of directors has voted to give U.S. Ryder Cup players and the team captain a $200,000 stipend – in addition to increasing donations to a ...
DETROIT (Reuters) -U.S. automakers Ford Motor and General Motors will donate $1 million each, along with vehicles, to U.S. President-elect Donald Trump's January inauguration, company ...
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