If Several People Act as Cosureties for a Principal and One

question 19

Multiple Choice

If several people act as cosureties for a principal and one of them had paid the principal's debt,the cosurety who paid the debt has a claim against the other cosureties because of his or her:

• A) right of subrogation.
• B) right to contribution.
• C) right of strict foreclosure.
• D) right to reimbursement.

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Definitions:

UAE Civil Code

A set of laws that regulate civil transactions within the United Arab Emirates, covering matters such as contracts, personal status, and property.

Compensation

Payment or reward given to someone for services rendered or losses incurred.

Principal Ratifies

Occurs when a principal approves and accepts the actions of an agent that were originally outside the agent's scope of authority.

Expressly Excludes

A contractual term used to specify that certain conditions or provisions are deliberately not covered within an agreement.