In a Guaranty Contract, the Obligor Is Called A

question 37

Multiple Choice

In a guaranty contract, the obligor is called a:

• A) surety.
• B) principal.
• C) guarantor.
• D) creditor.

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Definitions:

Mortgage Interest Rates

The cost of borrowing money expressed as a percentage of the total amount of the loan, applied to mortgages.

NSF Charges

Non-Sufficient Funds (NSF) charges are fees charged when a transaction is attempted on an account without adequate funds to cover it.

Legal Rights

Refers to the entitlements granted by legal systems or societal norms to individuals or entities, encompassing freedoms, privileges, and protections under law.

Clearing

The process of reconciling purchases and sales of various options, futures, or securities, as well as the direct transfer of funds from one financial institution to another.