suretyship
C2CEFR level
93/100Rarity: very rare
TechnicalRegister
Law noun
An undertaking to answer for another person's debt or default.
The parent company's suretyship reassured the bank about the subsidiary's loan.
Business noun
The legal obligation by which one person guarantees another's debt or performance.
Under the suretyship, the founder became personally answerable for the company's overdraft.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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