Guaranty

[Sarah]

In law and common usage: An undertaking to answer for thepayment of some debt, or the performance of some contract or duty, ofanother, in case of the failure of such other to pay or perform; aguarantee; a warranty; a security.

[Oralee]

a legal agreement in which a person or organization promises to pay back a loan if the person or organization that originally borrowed the money cannot: