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:

Positive Consequences

Outcomes or results of an action that are beneficial or desirable, encouraging the repetition of the behavior that led to them.

Positive Reinforcement

A method of strengthening desired behavior by offering motivating incentives or rewards when the behavior is exhibited.

Extinction

A reinforcement contingency in which a behavior is followed by the absence of any consequence, thereby reducing the likelihood that the behavior will be repeated in the same or similar situations.

Negative Reinforcement

A type of conditioning where an undesirable outcome or event is removed following a behavior, increasing the likelihood of that behavior's occurrence in the future.