Which of the Following Statements Is True of a Guaranty

question 8

Multiple Choice

Which of the following statements is true of a guaranty contract?

• A) The guaranty contract is between the guarantor and the debtor.
• B) A guaranty contract need not be in writing.
• C) The guarantor's liability is secondary.
• D) The original contract is between the creditor and the guarantor.

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Definitions:

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A stage in human development that typically involves individuals aged 65 and older.

Divorce

The legal dissolution of a marriage by a court or other competent body.

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The role and experience of being the grandparent to one's grandchild's child, involving relationships that span four generations.

Sense of Renewal

The feeling or experience of being refreshed or rejuvenated.