Guarantee liability
The amount or obligation a guarantor may have to pay under the wording of a valid and enforceable guarantee.
Related terms
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Personal guarantee exposure
The amount a guarantor may personally be at risk for under one or more guarantees, subject to the wording, security and enforceability of each agreement.
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Personal guarantee demand
A formal or informal demand requiring a guarantor to pay under a personal guarantee after the creditor says liability has arisen.
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Liability cap
A contractual limit on the maximum amount a party can be required to pay under a particular obligation, such as a guarantee.
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