When a Surety Pays a Debt That It Is Obligated

question 34

Multiple Choice

When a surety pays a debt that it is obligated to pay, it automatically acquires the claim and the rights of the creditor through:

• A) assignment.
• B) exoneration.
• C) subrogation.
• D) default.

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Definitions:

Terminal Decline

The rapid decline in cognitive and physical health that occurs shortly before death.

Mental Ability

The capacity to perform cognitive tasks, think critically, and solve problems.

Retirement

The phase of life following an individual's withdrawal from the workforce, typically due to reaching a certain age or completing a career.

Fluid Intelligence

The ability to solve new problems, use logic in new situations, and identify patterns.