contracts. He lo whom a guaranty is made. 2. The guarantee is entitled to receive payment, in the first place, from the debtor, and, secondly, from the guarantor. He must be careful not to give time beyond that stipulated in the original agreement, to the debtor, without the consent of the guarantor; the guarantee should, at the instance of the guarantor, bring an action against the principal for the recovery of the debt. But the mere omission of the guarantee to sue the principal debtor will not, in general, discharge the guarantor.
Law Dictionary – Alternative Legal Definition
He to whom a guaranty is made. This word is also used, as a noun, to denote the contract of guaranty or the obligation of a guarantor, and, as a verb, to denote the action of assuming the responsibilities of a guarantor. But on the general principle of legal orthography, that the title of the person to whom the action passes over should end in “ee,” as “donee,” “grantee,” “payee,” “bailee,” “drawee,” etc., it seems better to use this word only as the correlative of “guarantor,” and to spell the verb, and also the name of the contract, “guaranty.”