A Surety Is Liable from the Moment of Default Whereas

question 28

True/False

A surety is liable from the moment of default whereas a guarantor is ordinarily only liable if the creditor cannot collect from the principal debtor.

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Definitions:

Gastrin

Hormone secreted in the mucosa of the stomach and duodenum that stimulates the secretion of hydrochloric acid by the parietal cells of the gastric glands.

Gastric Secretion

The process of producing and releasing fluids containing hydrochloric acid and digestive enzymes by the stomach lining.

Chyme

The fluid mixture of partially digested food and digestive secretions that is formed in the stomach and intestine during digestion.

Gastric Juices

A mixture of mucus, hydrochloric acid, and digestive enzymes produced by the stomach lining to aid in the digestion of food.