- guarantee
- a legal document in which the producer agrees to compensate the buyer if the product is faulty or becomes faulty before a specific date after purchase
Examples a certificate of guarantee or a guarantee certificate • The guarantee lasts for two years. • It is sold with a twelve-month guarantee.- a promise that someone will pay another person’s debts
Usage company limited by guarantee- company where each member stated in the memorandum of association how much money he will contribute to the company if it becomes insolvent (as opposed to a company limited by shares)
- something given as a security
Example to leave share certificates as a guarantee- to give a promise that something will happen
Definition
noun
verb
Learn a new term:
sales journal