When you see the pair of words "guarantee" and "guaranty", do you think they are confused or misspelled? Are they both correct and accepted for the same meaning, or are they completely different regarding the message they transmit?
Let's see whether you can or you can't use these two forms in various contexts correctly!
Guarantee vs. Guaranty
Both as a noun and as a verb, "guarantee" is a modern, commonly used word to express a promise that something will happen, that something is true, or, in certain situations, the promise of a company to repair certain products for a period of time if something happens.
But what about "guaranty"? Well, this word mainly refers to the same thing. The difference, anyway, is about how frequently it is used. "Guaranty" is actually an older version of "guarantee". Today, this is an obsolete word, rarely used and usually in specific contexts such as the legal and financial domains.
When do we use "guarantee"?
You can use "guarantee" both as a verb and as a noun, in any context where you wish to express the promise that something will happen or the meaning of the word "warranty".
When do we use "guaranty"?
"Guaranty" is mainly used as a noun, though you will rarely find it in common, daily conversations. It is a good idea, though, to use this word if you write a financial or legal document, or an official publication. In these domains, "guaranty" it is still frequently used - or at least more frequently than in modern general speaking.
Nowadays, it is much more likely that you find the word "guarantee" spelled like this, rather than "guaranty". The second one is an old and less-used word, while the other is to be found on almost any contract, from signing with a bank to purchasing a car. Using both of them, therefore, isn't wrong, even though you might want to go for "guarantee" to be up to date with today's English vocabulary.