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1492 terms

Glossary

Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.

Showing 1 term

Surety

Market basics
Also called: Guarantor

The person who guarantees another’s debt; under the Indian Contract Act, 1872 the surety’s liability is co-extensive with the borrower’s.

In plain terms

Socially a gesture of trust, legally a full-value obligation — the lender may come to you first, without being obliged to exhaust its remedies against the borrower. A continuing guarantee cannot be withdrawn from a loan already disbursed.

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Indian stock market glossary · Market Vidyalaya