A guaranty of payment creates a(n) :
A) contract of surety.
B) contract of credit.
C) letter of credit.
D) absolute guaranty.
Correct Answer:
Verified
Q23: An issuer in a letter of credit
Q24: The amount of credit specified in a
Q25: Consideration is not required to establish or
Q26: When a surety pays a debt that
Q27: A letter of credit cannot extend for
Q29: The issuer of a letter of credit
Q30: In a guaranty contract, the obligor is
Q31: If there are two or more sureties
Q32: Which of the following is correct concerning
Q33: The use of letters of credit arose
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