Which of the Following Is True of a Guarantor in a Guaranty

question 73

Multiple Choice

Which of the following is true of a guarantor in a guaranty arrangement?

• A)The guarantor is secondarily liable on the debt.
• B)The guarantor must pay the debt even if the principal debtor is not in default.
• C)The creditor can first seek legal remedy from the guarantor.
• D)The guarantor has full legal rights to possession of the real property in this type of arrangement.

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Definitions:

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