With Regard to Guarantees and Indemnities, Which of the Following

question 84

Multiple Choice

With regard to guarantees and indemnities, which of the following is false?

• A) A guarantor can use any defence against the creditor that the debtor could use.
• B) A legally binding promise to be primarily responsible for someone else's obligation is an indemnity.
• C) A guarantee cannot be enforced in court unless it satisfies the writing requirements set out in statute.
• D) Subrogation can result in a guarantor's being able to sue successfully the very debtor whose obligation he guaranteed.
• E) A legally enforceable guarantee must satisfy all the elements required to create a binding contract except consideration.

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Definitions:

Probability

A measure of the likelihood of a specific outcome or event occurring, expressed as a number between 0 and 1.

Batteries

Instruments made up of at least one electrochemical cell that reserves and delivers electrical power.

All Diamonds

This is not recognized as a standard key term or concept. NO.

Probability

A measure of the likelihood that an event will occur, often expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.