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This might vary by jurisdiction, but in California an undertaking is like a bond - you put money into an account or give it to a third party to hold, pending some action. A guarantee is an agreement whereby someone personally agrees to share liability for the debts of another person or entity.

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Q: What is difference between guarantee and undertaking?
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What is the difference between a Deed of Undertaking and a Deed of Assignment?

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What is the difference between an undertaking and intentions?

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Definition of "Continuing Guarantee"A continuing guarantee is a guarantee where the guarantor assumes liability for any past, present and future obligations owed by a debtor to a lender or creditor. Even where the amount owing has been completely paid, the guarantor can still be liable under that line of credit if there is a subsequent indebtedness. Also known as a continuing guaranty. A common example is a guarantee for a revolving line of credit. specific guaranteeWritten undertaking to fulfill a specific obligation. Also called specific guarantee.


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What difference between indemnity and contract and contract of guarantee?

A contract of guaranty is a collateral undertaking, and presupposes an original contract; while a contract of indemnity is original and independent. In a contract of indemnity, the undertaking is to make good and save harmless the person, with whom the contract is made, upon an obligation of such person to a third person; while, in a contract of guaranty, the obligation is to answer for the debt, default, or miscarriage of another to the person with whom the contract is made.


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What does profit?

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What is the difference between 'enterprise' and 'undertaking'?

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