In the Context of a Surety Agreement,the Party Who Agrees

question 21

Multiple Choice

In the context of a surety agreement,the party who agrees to answer for the debt,default,or obligation of another party is called the

• A)principal.
• B)obligee.
• C)surety.
• D)fidelity.

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Definitions:

National Saving

The total saving in an economy, consisting of both private savings by households and businesses, and public savings by the government.

Formal Budget Process

The systematic procedures followed by organizations or governments to estimate revenues, plan expenditures, and manage finances.

Economic Report

A document that provides information about the economic performance, policies, and conditions of a country, region, company, or sector.

National Debt

The total amount of money that a country's government has borrowed, through various means.