Which of the following is correct concerning suretyship and guaranty?
A) A surety is always liable from the moment the principal is in default.
B) A guarantor is always liable from the moment the principal is in default
C) Both a.and b.
D) None of the above.
Correct Answer:
Verified
Q21: An agreement or provision in an agreement
Q24: The amount of credit specified in a
Q26: The issuer of a letter of credit
Q27: The issuer of a letter of credit
Q29: The bank that tells the beneficiary that
Q30: In a guaranty contract, the obligor is
Q31: If there are two or more sureties
Q34: The issuer of a letter of credit
Q38: A surety that has made payment of
Q39: A letter of credit must be in
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