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Simple English definitions for legal terms
guaranteed reservation
Read a random definition: grubstake contract
A quick definition of guaranteed reservation:
Guaranteed reservation: When you want to reserve something like a hotel room or a car, you can make a guaranteed reservation. This means you have to pay for it in advance and the business has to keep it for you. If they can't give you what you reserved, they have to give you something similar and pay for any problems it causes. If they can't give you anything similar, they have to give you your money back and pay for any other problems it causes. If a business keeps breaking guaranteed reservations or lies to you, you can get help from the government to make it right.
A more thorough explanation:
Guaranteed reservation is an agreement between a customer and a business to reserve something, like a hotel room or a vehicle. The customer pays for the reservation in advance, and the business holds the reservation for the customer.
If the business cannot provide the reservation when it's due, they must provide a similar one and pay for any damages caused by the breach of contract. If the reservation is unique, the customer may be entitled to monetary damages from the business.
For example, if a customer books the only hotel room on the edge of the Grand Canyon, and the business cannot provide it, they must refund the reservation and pay for any other damages caused by the breach of contract.
If a business frequently breaks guaranteed reservations or uses misleading practices, the consumer may have remedies under federal or state consumer protection laws.