A decision of a court regarding the rights and liabilities of the parties to legal proceedings. Judgments generally provide the court’s explanation as to why it has chosen to make a particular decision.

The demonstration of agreement with the terms and conditions of another person’s offer so that the offer becomes a formal contract between the two parties.

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.