continuing guaranty

A guaranty which covers a series of transactions or a succession of credits extended to the principal debtor, its purpose being to give him standing credit usable from time to time. 24 Am J1st Guar § 18.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • continuing guaranty — A guaranty in which the guarantor agrees to guarantee all future loans made to that borrower by the bank, not just the loan or loans made as part of the transaction in which the guaranty was obtained. American Banker Glossary …   Financial and business terms

  • guaranty — guar·an·ty / gar ən tē, gär / n pl ties [Old French garantie, from garantir to guarantee, from garant warrant] 1: a pledge to pay another s debt or to perform another s duty in case of the other s default or inadequate performance compare letter… …   Law dictionary

  • guaranty — 1. v. To undertake collaterally to answer for the payment of another s debt or the performance of another s duty, liability, or obligation; to assume the responsibility of a guarantor; to warrant. See guaranty noun, 2. n A collateral agreement… …   Black's law dictionary

  • guaranty — 1. v. To undertake collaterally to answer for the payment of another s debt or the performance of another s duty, liability, or obligation; to assume the responsibility of a guarantor; to warrant. See guaranty noun, 2. n A collateral agreement… …   Black's law dictionary

  • guaranty — An undertaking or promise, on the part of one person called the guarantor, which is collateral to a primary or principal obligation on the part of another, and which binds the guarantor to performance in the event of nonperformance by such other… …   Ballentine's law dictionary

  • revocation of guaranty — The termination by the guarantor of a continuing guaranty or of his offer to guarantee an obligation to be incurred at a future time. 24 Am J1st Guar § 64 …   Ballentine's law dictionary

  • Pension Benefit Guaranty Corporation — (United States) Agency overview Formed September 2, 1974 …   Wikipedia

  • ГАРАНТИЯ ОБЩАЯ — CONTINUING GUARANTYСм. ГАРАНТИЯ …   Энциклопедия банковского дела и финансов

  • continue — con·tin·ue vt tin·ued, tinu·ing: to postpone (a legal proceeding) to a future day Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. continue I …   Law dictionary

  • continuando — /kantinyuwaendow/ In old pleading, a form of allegation in which the trespass, criminal offense, or other wrongful act complained of is charged to have been committed on a specified day and to have continued to the present time, or is averred to… …   Black's law dictionary

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