collateral promise to answer for the debt of another

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, the former should pay. 49 Am J1st Stat of F § 61; an undertaking by a person not before liable for the purpose of securing or performing the same duties for which the party for whom the undertaking is made continues liable. Goldsmith v Erwin (CA4 NC) 183 F2d 432, 20 ALR2d 240.

Ballentine's law dictionary. . 1998.

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