(A) He who makes a guaranty. A person who makes a guarantee to pay the debt of another on an agreement should that party default. For example, a guarantor on a lease agreement agrees to cover all outstanding amounts due to a landlord for unpaid rent and default by the tenant. (B) contracts. He who makes a guaranty. 2. The guarantor is bound to fulfill the engagement he has … [Read more...]

A calculation that provides the percentage of gross profit and equals (sales revenue) less (cost of sales) divided by (sales revenue) … [Read more...]

estates. In Pennsylvania, this term is used to signify a perpetual rent issuing out of some real estate. This rent is redeemable where there is a covenant in the deed that, before the expiration of a period therein named, it may be redeemed by the payment of a certain sum of money; or it is irredeemable, when there is no such agreement; and, in the latter case, it cannot be … [Read more...]

(A) contracts. A promise made upon a good consideration, to answer for the payment of some debt, or the performance of some duty, in case of the failure of another person, who is, in the first instance, liable to such payment or performance. (B) The agreement to pay the debt of another or to perform the service promised by another if such person defaults. For example, the … [Read more...]

A serious and severe misconduct, such as misconduct that would be justifiable to terminate an employee from employment. … [Read more...]