The Principal Debtor's Lack of Capacity Due to His Status

question 72

True/False

The principal debtor's lack of capacity due to his status as a minor may be used by the surety to avoid payment of the obligation.

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Definitions:

Policy

A course or principle of action adopted or proposed by an organization or individual, guiding decisions and achieving rational outcomes.

Premium

An amount paid for an insurance policy, reflecting the cost of coverage.

Real Estate Closing

The final step in executing a real estate transaction where the title is transferred and financial dealings are settled.

Closing Costs

The expenses, over and above the price of the property, that buyers and sellers normally incur to complete a real estate transaction.