Abstract and Keywords
Guarantees are an important interdisciplinary meeting point of economics, accounting, and law. A guarantor becomes liable for the debt of a primary debtor if the primary debtor defaults. This article focuses on the Jewish guarantor and the secular law and also their removal. A contingent claim is a possible obligation that arises from past events and whose existence will be confirmed only by the occurrence of one or more uncertain future events. The guarantee is part of the package of contingent claims that comprise the value of a business’s or an individual’s net worth. This article discusses the economic value of a guarantor and how to go about finding the perfect guarantor and go about investing one’s money. This article traces the existence of usury and the concept of guarantee in Judaism. This article also draws a comparison between Judaic and English laws pertaining to money lending which concludes it.
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