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Simple English definitions for legal terms
caution
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A quick definition of caution:
Term: CAUTION
Definition: Caution is a legal term that refers to a security given to ensure that someone fulfills their obligation. It can also refer to the person who gives the security, also known as a cautioner. This is often used in civil and Scots law.
A more thorough explanation:
Caution (kay-shən) is a legal term used in Civil and Scots law. It has two meanings:
- Security given to ensure the performance of some obligation. For example, if someone is borrowing money, they may have to provide a caution to the lender to ensure that they will pay the money back. This is like a guarantee or a promise to pay.
- The person who gives the security is called a cautioner. For example, if someone is acting as a guarantor for a loan, they are the cautioner.
Another example of caution is when a landlord asks for a caution from a tenant before they move in. This is to ensure that the tenant will pay their rent and take care of the property.
These examples illustrate how caution is used to provide security and ensure that obligations are met.