Which of the following is true of a guarantor in a guaranty arrangement?
A) The guarantor is secondarily liable on the debt.
B) The guarantor must pay the debt even if the principal debtor is not in default.
C) The creditor can first seek legal remedy from the guarantor.
D) The guarantor has full legal rights to possession of the real property in this type of arrangement.
Correct Answer:
Verified
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