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Guarantor

A person who pledges payment or performance of a contract of another, but separately, as part of an independently contract with the obligee of the original contract.
A person who pledges collateral for the contract of another, but separately, as part of an independently contract with the obligee of the original contract. Compare with "surety."

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Unless otherwise noted, this article was written by Lloyd Duhaime, Barrister, Solicitor, Attorney and Lawyer (and Notary Public!). It is not intended to be legal advice and you would be foolhardy to rely on it in respect to any specific situation you or an acquaintance may be facing. In addition, the law changes rapidly and sometimes with little notice so from time to time, an article may not be up to date. Therefore, this is merely legal information designed to educate the reader. If you have a real situation, this information will serve as a good springboard to get legal advice from a lawyer.

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