A Surety Is Secondarily Liable for Paying the Principal Debtor's

question 126

True/False

A surety is secondarily liable for paying the principal debtor's debt when it is due.

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Definitions:

Written Rules

Explicitly documented guidelines or procedures that govern behavior and operations within an organization or society.

Mutual Adjustment

A process of coordination where individuals or groups modify their actions based on interactions with others, to achieve a common goal or maintain harmony.

Informal Means

Methods or processes that occur naturally or are created through casual interactions rather than through formal structures or procedures.

Divided Labour

The assignment of different parts of a manufacturing process or task to different people in order to improve efficiency, also known as division of labor.