Detroit Michigan Release from Liability under Guaranty
Category:
State:
Multi-State
City:
Detroit
Control #:
US-1087BG
Format:
Word;
Rich Text
Instant download
Description
A guaranty is a contract under which one person agrees to pay a debt or perform a duty if the other person who is bound to pay the debt or perform the duty fails to do so. Usually, the party receiving the guaranty will first try to collect or obtain performance from the debtor before trying to collect from the one making the guaranty (guarantor).
