Guarantor at Legal Glossary
What is it? A person who makes a legally binding promise to either pay another persons debt or perform another persons duty if that person defaults or fails to perform. The guarantor gives a guaranty, which is an assurance that the debt or other obligation will be fulfilled.Law Definition Added By: Jacob
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Law Terms guaranteed reservation is A hotel or rental car reservation secured by a credit card number. In exchange for your card number, the hotel or rental agency promises to have a room or vehicle for you no matter when you show up. If you have a guaranteed reservation with a hotel, it must provide you with a room, either at that hotel or at another comparable establishment. If you have a guaranteed reservation with a car agency, it must provide you with a vehicle. The downside of a guaranteed reservation is that if you dont show up and havent cancelled your reservation, you will be billed for one night in the room or one days use of the vehicle.Law Terms nonimmigrant visa is A U.S. visa that allows an individual to come to the United States temporarily and for a limited purpose. Each nonimmigrant visa comes with a different set of privileges, such as the right to work or study. In addition to a descriptive name, a letter of the alphabet and a number identifies each type of nonimmigrant visa. Student visas, for example, are F-1 or M-1 and investors are E-2. Nonimmigrant visas also vary according to how long they permit you to stay in the United States. For example, on an investor visa, you can remain for many years, but on a visitors visa, you can stay for only six months at a time.
Law Terms binding precedent is The decisions of higher courts that set the legal standards for similar cases in lower courts within the same jurisdiction.
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