The Difference Between a Guarantee and an Indemnity Is That

question 31

Multiple Choice

The difference between a guarantee and an indemnity is that

• A) the Statute of Frauds applied only to indemnities.
• B) indemnities need to be in writing to be enforceable.
• C) a guarantee is a promise to assume another's debt.
• D) a guarantee is a conditional promise whereas an indemnity is not.
• E) none of the above

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Definitions:

Roger Sperry

A neuropsychologist and neurobiologist who was awarded the Nobel Prize for his work on the split-brain research which advanced our understanding of the functional specialization of the cerebral hemispheres.

Epilepsy

A neurological disorder marked by sudden recurrent episodes of sensory disturbance, loss of consciousness, or convulsions, associated with abnormal electrical activity in the brain.

Somatosensory Cortex

A part of the brain that processes sensory input from various parts of the body, including touch, temperature, and pain.

Parietal Lobe

A region of the cerebral cortex involved in processing sensory information from various parts of the body, understanding spatial orientation, and language and mathematics processing.