suretyship

From surety +‎ -ship.

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

suretyship (plural suretyships)

1. (law) An accessory agreement through which a person binds themselves for another already bound, either in whole or in part, as for their debt, default or miscarriage; the assumption of liability for the obligations of another.
   • 1621, Democritus Junior [pseudonym; Robert Burton], The Anatomy of Melancholy, Oxford: Printed by Iohn Lichfield and Iames Short, for Henry Cripps, OCLC 216894069; The Anatomy of Melancholy: […], 2nd corrected and augmented edition, Oxford: Printed by John Lichfield and James Short, for Henry Cripps, 1624, OCLC 54573970, (please specify |partition=1, 2, or 3):

     , 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