A surety may raise the defense of lack of capacity of parties, absence of consideration, fraud, or mistake.
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Q2: Sound business practice dictates the use of
Q3: A surety may be discharged if the
Q4: In most states, the statute of frauds
Q4: Suretyship and guaranty transactions have the common
Q5: Letters of credit are a form of
Q6: The creditor first must proceed against the
Q7: If the creditor does not enforce the
Q9: A surety primarily is liable; ordinarily, a
Q10: The creditor's failure to give the surety
Q12: Under an indemnity contract, one person pays
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