Difference between Guaranty and Guarantee
Key difference: Essentially, ‘guaranty’ and ‘guarantee’ both have the same meaning. ‘Guaranty’ is a noun, whereas, ‘guarantee’ can be used as both a noun and a verb.
Essentially, ‘guaranty’ and ‘guarantee’ both have the same meaning, with just slight differences. The both mean “something given by someone to another person as a security.” ‘Guaranty’ is a noun, whereas, ‘guarantee’ can be used as both a noun and a verb. ‘Guarantee’ is considered as a variation of the spelling of ‘guaranty.’ However, ‘guarantee’ has for all purposes overshadowed ‘guaranty’ in both British English, and American English. So, ‘guarantee’ can be used at all instances.
According to Dictionay.com, the definition of ‘guaranty’ states:
- A warrant, pledge, or formal assurance given as security that another's debt or obligation will be fulfilled.
- Something that is taken or presented as security.
- The act of giving security.
- A person who acts as a guarantor.
Dictionay.com defines ‘guarantee’ as:
- A promise or assurance, especially one in writing, that something is of specified quality, content, benefit, etc., or that it will perform satisfactorily for a given length of time: a money-back guarantee.
- Guaranty (Definitions: 1, 2).
- Something that assures a particular outcome or condition: Wealth is no guarantee of happiness
- A person who gives a guarantee or guaranty; guarantor.
- A person to whom a guarantee is made.
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