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LSDefine

Simple English definitions for legal terms

continuing guaranty

Read a random definition: riens passa per le fait

A quick definition of continuing guaranty:

A continuing guaranty is a promise made by someone to pay a debt or perform a duty if another person fails to do so. This type of guaranty applies to a series of transactions or an ongoing relationship, rather than just one specific instance. It is important to have this promise in writing and it is usually used in finance and banking contexts.

A more thorough explanation:

A continuing guaranty is a type of guarantee in which a person promises to pay a debt or perform a duty if another person fails to do so. This type of guarantee applies to a course of dealing for an indefinite time or by a succession of credits.

  • John guarantees to pay all of the debts that his friend Tom incurs with a particular credit card company. This is a continuing guaranty because it applies to a succession of credits.
  • Samantha guarantees to pay the rent for her sister's apartment for the next year. This is also a continuing guaranty because it applies to an indefinite time period.

These examples illustrate how a continuing guaranty can be used to provide ongoing financial support for another person. The guarantor is responsible for paying the debt or performing the duty if the primary obligor fails to do so. This type of guarantee is often used in business and financial contexts.

continuing covenant | continuing harm

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20:07
I am semi proficient in spanish.
20:08
nice same. This sounds bad but I do not like how spanish sounds.
20:09
or english for that matter
20:09
There is nothing wrong with that. I like all the languages. It is tones that annoy me.
20:10
and fabrics
20:14
@GalenMeric: Sorry, tones is what I meant. Are you a wool fabric fan?
20:40
I think my only wool piece is my suits, and I like those quite a bit.
21:11
Wool is the best fabric
21:12
I only buy wool, denim, leather, and loop wheel cotton
21:31
@NemoPropheta: Im on that polyester, nylon, spandex, rayon, and fleece grind fam
21:32
jk but fr: I was watching how to fold dress shirts so they do not wrinkle, and the dude did his folding on a wool blanket so that the wool fibers grabbed the cotton shirt (like velcro), that is smart asf
21:32
That is smart
21:33
I want a weatherwool blanket
21:33
But I hang my shirts but Ive heard arguments against it
21:34
Generally I fold knitwear and hang everything else
21:35
Cant wait to get that big law money and spend it all on clothes 🙏
21:37
@NemoPropheta: his point was to protect the collar at all costs, therefore fold most shirts. I HATE when collars be acting out, so I will adpot his method: https://www.youtube.com/shorts/QaVKudd36zc?feature=share
21:38
oh fr wearin a suit is so fun t. someone who wears a suit seldomly
21:40
Yeah that makes sense, I do hate when my collar stick out at the sides, I cant figure out how to iron them so they maintain their shape
21:48
collar stays may be the answer. also, shirt stays are goated
21:50
@NemoPropheta: those look so nice, but i feel like one spec of dirt or one crease will ruin ur week, even if the money means nothing?
23:18
Idk I like worm i
23:19
bruh
23:19
I like worn in leather, and dirt is easy enough to clean off*
OrangeThing
23:27
Am I still muted on here
OrangeThing
23:27
Oh I guess not
OrangeThing
23:27
Hello all
f$ll to MarqU baby
Ur-
0:34
@OrangeThing: Welcome back Renard99
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