An Arrangement in Which a Third Party Promises to Be

question 65

Multiple Choice

An arrangement in which a third party promises to be primarily liable with the borrower for the payment of the borrower's debt is referred to as ________.

• A)garnishment
• B)accommodation
• C)surety arrangement
• D)guaranty arrangement

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Definitions:

Sale

The act of selling goods or services in exchange for money or other compensation.

Polk Common Stock

A fictional example, likely referring to shares of common stock issued by a company named "Polk."

Purchase

The act of buying goods or services, often reflected in the financial transactions of a business.

Sale

A transaction between two parties where the buyer receives goods, services, or assets in exchange for money.