The Difference Between a Guarantee and an Indemnity Is That

question 45

Multiple Choice

The difference between a guarantee and an indemnity is that

• A)indemnities need to be in writing to be enforceable.
• B)a guarantee is a conditional promise and an indemnity is not.
• C)a guarantee is a promise to assume another's debt.
• D)the Statute of Frauds applies to indemnities but not to guarantees.
• E)a guarantee is given to a bank and an indemnity is given to a party that is not a bank.

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Definitions:

Host Culture

The culture of a country or community where an individual is living temporarily or permanently as a visitor or newcomer, often contrasted with the individual's native or home culture.

Ethnic Group

A community or population made up of people who share a common cultural background, heritage, language, or belief system.

Discrimination

The unjust or prejudicial treatment of different categories of people, especially on the grounds of race, age, or sex.

Prejudice

Preconceived opinion or bias against an individual or group based on their characteristics, without any factual basis.