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Meaning of suretyship

sur•e•ty•ship

Pronunciation: (shoor'i-tē-ship", shoor'tē-, shûr'i-tē-, shûr'tē-), [key]
— n. Law.
  1. the relationship between the surety, the principal debtor, and the creditor.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.