suretyship

From surety +‎ -ship.

• (UK) IPA^(key): /ˈʃʊəɹɪtiːʃɪp/, /ˈʃɔːɹətiːʃɪp/

suretyship (plural suretyships)

1. (law) An accessory agreement through which one binds oneself for another already bound, either in whole or in part, as for one's debt, default or miscarriage; the assumption of liability for the obligations of another.
   • 1624, Democritus Junior [pseudonym; Robert Burton], The Anatomy of Melancholy: […], 2nd edition, Oxford, Oxfordshire: Printed by John Lichfield and James Short, for Henry Cripps, →OCLC:

     , vol.1, New York Review of Books, 2001, p.290:

     as a man desperately swimming drowns him that comes to help him, by suretyship and borrowing they will willingly undo all their associates and allies […].

• guaranty