guarantor of payment

guarantor of payment

One who guarantees payment of a negotiable instrument when it is due without the holder first seeking payment from another party.

? A guarantor of payment is liable only if ¡°payment guaranteed¡± or equivalent words are added to the guarantor’s indorsement. [Cases: Guaranty 35, 45, 77.]


How do bilingual lawyers in China usually translate the term guarantor of payment?
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