All of the Following Statements About a Surety Are True

question 9

Multiple Choice

All of the following statements about a surety are true EXCEPT

• A)A surety theoretically expects no losses to occur.
• B)The principal is the party who agrees to answer for the debt,default,or obligation of another party.
• C)The surety has the legal right to recover a loss payment from the defaulting principal.
• D)There are three parties to a surety bond: the principal,the surety,and the obligee.

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Definitions:

Psychological Functions

Fundamental cognitive processes described by Carl Jung, such as thinking, feeling, sensing, and intuiting, that underlie human behavior and personality.

Shadow Archetype

The dark side of the personality; the archetype that contains primitive animal instincts.

Society

A structured community of people bound together by similar traditions, institutions, or nationality.

Immoral

Actions or behaviors that are considered wrong or unethical by societal standards.