If a Debtor Defaults and the Debtor's Surety Satisfies the Obligation,the

question 79

Multiple Choice

If a debtor defaults and the debtor's surety satisfies the obligation,the surety acquires the right of:

• A)subrogation.
• B)primary lien.
• C)indemnification.
• D)chattel mortgage.

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Definitions:

Transfer Title

The process of legally transferring ownership of property from one party to another.

Land

Land refers to the surface of the earth, extending downward to the center of the earth and upward to the airspace above, including the natural resources and physical features associated with it.

Delivery

The act of transferring an item from one party to another, often implying the transfer of ownership or the fulfillment of an obligation.

UCC

The Uniform Commercial Code encompasses a wide-ranging assortment of laws that control the entirety of commercial transactions within the United States.