Guaranty

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Guaranty

1. See: Guarantee.

2. See: Collateral.
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References in periodicals archive ?
Waiver of Defenses: What is most amazing about many good guy guaranties is that they have a common clause: "Guarantor waives any defense to or limitation on the liability or obligations of Tenant under the Lease or any validity or unenforceability, in whole or in part of any obligation of tenant under the lease."
Four physicians guaranteeing a loan might not be inclined to provide "full" guaranties, but rather, may prefer "pro-rata" guaranties.
The Department said that expanding the scope of Regulation 61 is necessary due to the proliferation of financial guaranties in the marketplace.
The Seggermans argued they should recognize no gain since they had received no debt relief based on their personal guaranties. The Tax Court disagreed, citing Rosen v.
Both of the above cases provide instruction on proper wording for guaranties. They show that, to qualify as a general guaranty and thus fall outside the restrictions on enforcement following assignment which are imposed upon special guaranties, the guaranty should contain language such as "heir or assigns" or "successors and assigns" following the name of the party to whom the guaranty is designed to benefit.
Under all Good Guy Guaranties, after the release of the guarantor, the landlord still retains the right to sue the tenant for damages for the remainder of the lease term and any other performance obligations; however, the guarantor has now fulfilled all of its obligations.
One line of cases holds that guaranties generally do not provide adequate protection.