A surety primarily is liable; ordinarily, a guarantor is only secondarily liable.

Question

Quizplus · Accepted Answer

This is a correct statement. A surety is someone who guarantees to pay a debt or fulfill an obligation if the primary party fails to do so. The surety is primarily liable, which means that they are responsible for fulfilling the obligation if the primary party cannot. A guarantor, on the other hand, is someone who agrees to pay a debt or fulfill an obligation if the primary party fails to do so, but their liability is usually secondary to the primary party's liability.

A Surety Primarily Is Liable; Ordinarily, a Guarantor Is Only