A Collateral Promise Is an Undertaking to Be Primarily Liable

question 61

True/False

A collateral promise is an undertaking to be primarily liable for the principal debtor's debt.

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Definitions:

Ozone

A molecule made of three oxygen atoms, significant in the stratosphere where it protects life by absorbing harmful ultraviolet radiation.

Hydrogen Gas

A colorless, odorless, and highly flammable gas, the lightest and most abundant element in the universe, used in various industrial processes.

Biomass

Organic material derived from plants and animals, which can be used as a renewable energy source.

Environmental Quality

Refers to the condition of the environment and its capacity to support the health of ecological communities and human well-being.