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Marriage isn’t just a relation that brings two people together, it’s camaraderie of families, and it’s the union of two souls and a bond of their related affairs. Taking care of one another financially and emotionally is what this relation is all about. Sometimes saying ‘I Do’ at the altar doesn’t always suffice the relation and its clauses that you are about to enter therefore you tend to set things straight before you enter this holy matrimony. Prenuptial Agreement: Prenuptial agreement or the Prenup is an official settlement or the legal and financial affairs of the spouses to be, which dictates the state and division of assets and some personal matters before you officiate the marriage. It is also known as the premarital agreement that defines the fine line of how matters would move along once the wedding has taken place and how much each spouse is entitled to the wealth they are about to share. It also takes care of the financial matters in event of a divorce. It’s not a bad i...

It is often quite confusing what distinguishes between a pledge and a guarantee. By definition to most people both sound the same and are often used interchangeably. This however is wrong because both differ in a wider frame. A pledge is merely a promise to do something. It works as a promissory note but it does not entail binding of any sort whereas a guarantee is binding in nature such as the one which is placed or given on retail goods for example. Everyday Example: To make things clearer, the following example signifies how a pledge is different from guarantee and what role does binding have in this entire matter. For instance, a bank has taken two approaches to deal with the mortgage on property. The bank usually gives away a written pledge that a person applying for loan after initial investigation would be qualified for a bond worth the amount he is seeking. But this could vary because under no conditions the bank has obligation or has guaranteed a bond to that person. When ...