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SED QUARE

Categories: Contracts

Definition (1910 Edition)

debt, by furnishing the creditor with a resource to be used in case of failure In the principal obligation. The name is also sometimes given to one who becomes surety or guarantor for another. See First Nat. Bank v. Hollinsworth, 78 Iowa, 575, 43 N. W. 3536, 6L. R. A. 92; Storm v. Waddell, 2 Sandf.
Source: Black's Law Dictionary, 2nd Edition (1910) — Public Domain. UK commentary and modern updates are original additions. This entry is for educational reference only and does not constitute legal advice.