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Litigation Guarantee. A Litigation Guarantee is designed for issuance to an attorney representing the plaintiff in an action affecting land. Typical litigation includes actions to quiet title, foreclosure of liens, condemnation and declaratory relief.back. Litigation Guarantee is designed for issuance to an attorney representing the plaintiff in an action affecting land. Typical litigation includes actions to quiet title, foreclosure of liens, condemnation and declaratory relief. back.
A guarantee by a third party, often the holding company of the borrower or a bank, is used if the banks are comfortable with the creditworthiness of such third party. A contract of guarantee has been defined to mean a collateral engagement to answer for the debt, default or miscarriage of another person.