Which of the Following Is Correct Concerning Suretyship and Guaranty

question 20

Multiple Choice

Which of the following is correct concerning suretyship and guaranty?

• A) Each relationship always creates primary liability.
• B) Each involves answering for the debt or default of another.
• C) Each relationship of suretyship or guaranty must be in writing to be enforceable.
• D) Each relationship always creates secondary liability.

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Definitions:

Survivorship Curve

Graph showing how many members of a cohort remain alive over time.

Death Rate

The average number of deaths per unit of population over a given period of time.

Ecological Footprint

A measure of how much land and water area a human population requires to produce the resources it consumes and to absorb its wastes, using prevailing technology.

Earth's Surface

The outermost layer of the Earth that includes both land and water bodies.