Definition of Surety
Surety
sur·e·ty
Definition/Meaning
(noun)
A person or thing that guarantees or assumes responsibility for another's debt or obligation.
e.g. The bank required a surety to co-sign the loan.
(noun)
a person who is held legally responsible for another person's debt or failure, and who is thus answerable for their appearance in court or repayment of the required amount;
e.g. She was willing to sign on as his surety so that he would be released from custody.
(noun)
a formal guarantee or pledge that something will be done, such as a promise that a debt will be paid or task/duty will be undertaken, especially in the form of an amount of money paid;
e.g. They wrote a check for a surety that the job would be done by the end of the week.
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