MLchartDataset catalogue

Surety

Term · Law · MLC-T-LAW-004795

A person or entity that takes responsibility for another's performance of an undertaking, such as a debt or contractual obligation. The surety guarantees that if the principal debtor defaults, they will fulfill the obligation. This arrangement is common in bail bonds, construction contracts, and loan agreements.

Table 1. Record
IdentifierMLC-T-LAW-004795
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004795",
  "term": "Surety",
  "field": "Law",
  "definition": "A person or entity that takes responsibility for another's performance of an undertaking, such as a debt or contractual obligation. The surety guarantees that if the principal debtor defaults, they will fulfill the obligation. This arrangement is common in bail bonds, construction contracts, and loan agreements.",
  "url": "https://mlchart.com/terminology/law/surety/"
}

Record 4,893 of 5,441 in Law terminology (MLC-0107). Request the full dataset.