If the Creditor Refuses to Accept Tender of Payment by the Principal

question 70

True/False

If the creditor refuses to accept tender of payment by the principal debtor,the surety remains liable until the creditor wants payment.

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Definitions:

Pure Capitalism

An economic system characterized by private ownership of the means of production and where investments, distribution, income, production, and prices are determined by the market.

Owns No Resources

The condition of not having access to or control over any assets, capital, or means of production.

Production Possibilities Frontier

A curve that shows the different combinations of various goods that a country can produce given certain resources and technology.

Full Employment

Employment level when there is no cyclical unemployment.