Guaranty vs Guarantee
The difference between guaranty and guarantee is in the context in which we use the words. We all know, or at least seem to think, that we know all about guarantee. When we buy a product from the market, we all anticipate good quality and expect it to perform at its best for some time to come. The manufacturer, knowing that he has made a good product and believing in the quality of his product, assures us that he would replace the product if it were to develop a snag in a short period of time. This promise from the manufacturers is a reassurance to all of us inspiring confidence in the product. There is another word called guaranty that is a source of confusion. Is guaranty the same as guarantee or is there any difference between the two? Let us find out.
What does Guaranty mean?
The word guaranty as a noun is used mostly in financial transactions. The term is used to mean the promise we give to fulfill a legal obligation by paying the debt of another if that person fails to do so. When one of your friends asks for a loan from a bank in which you have an account too, the bank asks you to become a guarantor to his loan amount. This means that, in the event of your friend failing to pay back his loan, the bank will ask you in turn to pay the amount as you took the guaranty of your friend. In this context, guaranty means you promise to pay the obligation of your friend towards the bank in the event of your friend fails to meet his obligation. Remember though that, in this context, even the term guarantee can be easily used in place of guaranty. Guarantee seems to be an acceptable spelling in all parts of the world and is used in all contexts.
When it comes to the verb form of guaranty, people prefer to use the verb form of guarantee. Even in dictionaries you can see that it is stated that the verb form of guaranty is a variant of guarantee. Nowadays, people do not use the verb form of guaranty itself as they used to.
What does Guarantee mean?
The word guarantee carries several meanings. Guarantee as a noun means a promise someone gives to carry out some kind of an action. As a verb, guarantee means assuring that a promise will be protected or agreeing to fulfill someone else’s debt if that person fails to do so,or else, saying something with confidence. As you can see, the second meaning of the verb guarantee is similar to the meaning of the word guaranty. Look at the following examples.
This is my guarantee that I will look after the house.
I guaranteed my sister’s bank loan.
I guarantee that I will find a suitable man for the post.
I guarantee you that this is the best meal you can have in this city.
In the first sentence, the word guarantee is used as a noun that carries the meaning ‘a promise someone gives to carry out some kind of an action.’ In all other sentences, the word guarantee is used as a verb. In the second sentence, guarantee means ‘agreeing to fulfill someone else’s debt if that person fails to do so.’ So, this person has agreed to pay her sister’s loan if the sister fails to do so. In the third sentence, by using the word guarantee the speakers assures that he will protect the promise of finding a suitable man for the post. In the fourth sentence, the word guarantee means ‘to say something with confidence.’ So, the speaker is confident in saying that the particular meal is the best anyone can have in the city.
In British English, the word guarantee was used as a verb while guaranty was used as a noun. However, guarantee is the word that is gleefully being used both as a noun, as well as a verb, all over the world these days.
On the other hand, guarantee is mostly used in the contexts of consumer products in the shape of a manufacturer promising for the quality of the product and agreeing to change the product if it turns out faulty in a short period of time.
What is the difference between Guaranty and Guarantee?
The difference between the two words guaranty and guarantee, it seems is minimal. Both can be used interchangeably.
• The promise we give to fulfill a legal obligation by paying the debt of another if that person fails to do so.
• A promise someone gives to carry out some kind of an action.
• Assuring that a promise will be protected.
• Agreeing to fulfill someone else’s debt if that person fails to do so.
• To say something with confidence.
• In British English, there was a time when guaranty was used as a noun while guarantee was used as a verb. But today, all such distinctions have disappeared, and either of the two can be freely used.
• General Usage:
• Though, in general, in legal matters such as banking transactions guaranty is more commonly used.
• For consumer products and matters other than in the legal field, guarantee is more commonly used.
• Guaranty is not used much as a verb form. When the verb form of guaranty is needed people use guarantee.
• So, if using as a verb, always choose guarantee.
• When using as a noun, you can use either of the two spellings. You must pay attention to the context.
• Guaranty is for legal matters.
• Guarantee is for all other matters.