- The definition of a guarantee is a promise that something will happen.
An example of guarantee is a document stating that a new barbecue grill will be repaired free of charge for the first two years after purchase.
- Guarantee is defined as to state with confidence that something will happen.
An example of guarantee is for a store to sign a document stating that they will repair a new computer free of charge for three years after purchase.
guarantee definition by Webster's New World
- guaranty ( & )
- a pledge or assurance; specif.,
- a pledge that something is as represented and will be replaced if it does not meet specifications
- a positive assurance that something will be done in the manner specified
- a guarantor
- a person who receives a guaranty
- a sign or portent: the clouds were a guarantee of rain
Origin: altered ; from guaranty, after words ending in -ee
guarantee definition by American Heritage Dictionary
- Something that assures a particular outcome or condition: Lack of interest is a guarantee of failure.
- a. A promise or an assurance, especially one given in writing, that attests to the quality or durability of a product or service.b. A pledge that something will be performed in a specified manner.
- a. A guaranty by which one person assumes responsibility for paying another's debts or fulfilling another's responsibilities.b. A guaranty for the execution, completion, or existence of something.
- A guarantor.
- To assume responsibility for the debt, default, or miscarriage of.
- To assume responsibility for the quality or performance of: guarantee a product.
- To undertake to do, accomplish, or ensure (something) for another: guaranteed to free the captives; guarantees freedom of speech.
- To make certain: The rain guarantees a good crop this year.
- To furnish security for.
- To express or declare with conviction: I guarantee that you'll like this book.
Origin: Alteration of Middle English garant, warranty, from Old French; see guaranty.
guarantee - Investment & Finance Definition
A legal responsibility to pay a bill or fulfill a contract in the event that the company or person who has promised to make the payment defaults. If the guarantor is a corporation, the guarantee is a contingent liability that isn’t recognized on the company’s balance sheet until it appears that it will become an actual liability.Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana. Used by arrangement with John Wiley & Sons, Inc.
guarantee - Legal Definition
- A commitment by a third party to make good in the event of a default by a party to a contract, by paying the money or providing the performance due from the defaulting party.
- To promise to make good in the event of a default by a party to a contract by paying the money or providing the performance due from the defaulting party.