Examlex
The four categories of equity accounts are ________________,__________________,______________________,and ______________________.
Answers can appear in any order.
Enforcement
The act of ensuring compliance with laws, regulations, or agreements through legal means or actions.
Primary Obligation
A fundamental or main duty that a party is required to perform under the terms of a contract.
Indemnity
Indemnity is a contractual obligation of one party to compensate the loss occurred to the other party due to the acts of the indemnitor or any other party.
Guarantor
A guarantor is a person or entity that agrees to be responsible for another's debt or obligations, should the original party fail to meet their responsibilities.
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