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DO NOT USE Whenever we discuss a relationship with another, we are
Verbal Agreement
An oral contract that is formed through spoken communication rather than in writing, though its legal enforceability varies by jurisdiction.
Guarantee
A collateral promise (in writing) to answer for the debt of another (the principal debtor) if the debtor should default in payment.
Demand for Payment
A formal request issued by a creditor to a debtor requiring payment of an outstanding debt by a specific date.
Guarantee
A formal assurance or promise, typically in writing, that certain conditions will be fulfilled, including the quality and durability of a product or service.
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