suretyship

[ shoo r-i-tee-ship, shoo r-tee-, shur-i-tee-, shur-tee- ]

/ ˈʃʊər ɪ tiˌʃɪp, ˈʃʊər ti-, ˈʃɜr ɪ ti-, ˈʃɜr ti- /

the relationship between the surety, the principal debtor, and the creditor.

Origin of suretyship

First recorded in 1525–35; surety + -ship

Among other things this statute required contracts of suretyship to be in writing to be enforceable.

Cyclopedia of Commerce, Accountancy, Business Administration, v. 3 |Various
He was especially afraid of a suretyship suit instituted by Widow Smith.

Sir Walter Ralegh |William Stebbing
Attempts to perform such acts of suretyship are beyond their power, and are ultra vires.

Cyclopedia of Commerce, Accountancy, Business Administration, v. 3 |Various
If a suretyship contract is part of the transaction which it secures must it be supported by a separate consideration?

Cyclopedia of Commerce, Accountancy, Business Administration, v. 3 |Various

In commercial practice what form of suretyship contract is most frequently used, that of a surety or of a guarantor?

Cyclopedia of Commerce, Accountancy, Business Administration, v. 3 |Various