Which of the Following Is Correct Concerning Suretyship and Guaranty

question 15

Multiple Choice

Which of the following is correct concerning suretyship and guaranty?

• A) A surety is always liable from the moment the principal is in default.
• B) A guarantor is always liable from the moment the principal is in default
• C) Both a.and b.
• D) None of the above.

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Definitions:

Whaling Activities

The practice of hunting and capturing whales for their resources such as meat, oil, and blubber.

Ethical Reasons

Justifications for actions or beliefs based on moral principles and values, often guiding decision-making processes in personal and professional contexts.

Salmon Fishing

The activity of catching salmon from their natural habitats, which can involve challenges related to sustainability and conservation.

Decline

A gradual reduction in strength, quality, or number of something, often indicating a downward trend or deterioration.