Entity: GUARANTEED
A guarantee is a promise or assurance, often in writing, that something will meet certain quality standards or perform satisfactorily. It can also refer to a promise to answer for the payment of a debt or the performance of a duty of another in case of default. In some contexts, a guarantee is seen as the opposite of trust.
GUARANTEED
Etymology
The word 'guarantee' originates from the Old French word 'garantie', which means 'warrant'.
Definition
A guarantee is a promise or assurance, often in writing, that something will meet certain quality standards or perform satisfactorily. It can also refer to a promise to answer for the payment of a debt or the performance of a duty of another in case of default.
Historical Context
Guarantees have been used throughout history in various contexts, such as commerce, law, and personal agreements. The concept of guaranteeing the quality or performance of products or services has become a standard practice in many industries.
Cultural Significance
In modern society, guarantees play a crucial role in consumer protection and building trust between buyers and sellers. They provide assurance to consumers that they will receive the promised benefits or services.
Related Concepts
- Trust
- Warranty
- Assurance
See Also
A guarantee is a promise or assurance, often in writing, that something will meet certain quality standards or perform satisfactorily. It can also refer to a promise to answer for the payment of a debt or the performance of a duty of another in case of default.