promise to pay the debt of another

promise to pay the debt of another
See promise to answer for the debt, default, or miscarriage of another.

Ballentine's law dictionary. . 1998.

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  • collateral promise to answer for the debt of another — An undertaking which renders the promisor a guarantor or surety upon a debt owing by a third person who is primarily liable; a promise to pay the debt of another person made under such circumstances that, as between the debtor and the promisor,… …   Ballentine's law dictionary

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  • debt — A sum of money due by certain and express agreement. A specified sum of money owing to one person from another, including not only obligation of debtor to pay but right of creditor to receive and enforce payment. State v. Ducey, 25 Ohio App.2d 50 …   Black's law dictionary

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