Cosurety

/koʊˈʃʊrəti/ noun

Definition

A person who shares responsibility for guaranteeing that someone will fulfill an obligation, such as paying back a loan.

Etymology

From Latin 'co-' meaning 'together' and 'surety' from Old French 'surete', ultimately from Latin 'securitas' meaning 'security or safety'. A cosurety was a legal and financial term meaning joint guarantor.

Kelly Says

Historically, cosureties were incredibly important—they represented trust networks where multiple wealthy people would guarantee a loan, making default nearly impossible because the lender could pursue any of them; it was a social enforcement mechanism before modern banking.

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