suretyship
nounUK /ˈʃʊəɹɪtiːʃɪp/
Etymology From surety + -ship, possibly a partial calque of Middle English borweship (“suretiship, borrowship”).
1
Law An accessory agreement through which one binds oneself for another already bound, either in whole or in part, as for one's debt, default or miscarriage; the assumption of liability for the obligations of another.
- as a man desperately swimming drowns him that comes to help him, by suretyship and borrowing they will willingly undo all their associates and allies […]., vol.1, New York Review of Books, 2001, p.290
- Related terms
- guaranty