A Conditional Promise to Pay Only If the Debtor Defaults

question 58

True/False

A conditional promise to pay only if the debtor defaults is a guarantee.

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Definitions:

Sliding Fit

Sliding fit refers to a specific type of fit between two machine parts where one part can move freely within the other, allowing for lubricated relative motion or quick assembly/disassembly.

Basic Diameter

The nominal diameter of a thread, used as a basis for calculating various dimensions of the thread.

Maximum Hole Size

The largest allowable diameter of a hole, taking into account tolerances specified for manufacturing or engineering purposes.

Grade 14

Could refer to a specific level or quality classification in a grading system, but needs additional context to define precisely in a specific field.