A formal promise by one party (the guarantor or surety) to another party (the creditor) to accept responsibility of a third party’s (the principal debtor) debt, if that third party cannot or refuses to pay it.

The term that describes a duty that is enforced by a court and where non-fulfilment may incur a penalty.

An order issued by the authorities to all the state ports to prohibit a person from entering or leaving a country according to a court or police order for the protection of individual interests in cases like child custody, debt failure, or criminal investigation. Travel ban prohibits the banned person from leaving the country and gets him/her arrested while entering if the reason(s) for prohibition did not cease to exist.

Is deliberate deception to secure an unfair or unlawful gain. It is both a civil wrong (a fraud victim may sue the fraud perpetrator to remedy the fraud and/or recover compensation) and a criminal offence (a fraud perpetrator may be prosecuted and imprisoned by the government authorities).

Is the investigation of a business or person prior to signing a contract. A common example of due diligence in various industries is the process through which a potential buyer evaluates a target company or its assets for an acquisition.