A Surety Can Be Required to Pay an Obligation Only

question 26

True/False

A surety can be required to pay an obligation only after the principal debtor defaults and usually only after the creditor has made an attempt to collect from the debtor.

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Definitions:

Favor

An act of kindness beyond what is usual or expected, often involving giving someone an advantage or showing support.

Past

The period of time or a segment of history that has already occurred, distinguished from the present and future.

Social-Responsibility Norm

A societal expectation that people will help those who are dependent upon them or in need of assistance.

Expectation

A belief or anticipation about the way events, behaviors, or things are supposed to be.