A ________ Is a Contract Between a Creditor and a Third

question 8

Multiple Choice

A ________ is a contract between a creditor and a third party who agrees to pay another person's debt and is primarily liable for the debt whereas in a ________, a third party, must pay a debt only after the debtor has defaulted.

• A) Suretyship; guaranty
• B) Guaranty; certified agreement
• C) Certified agreement; suretyship
• D) Certified agreement; guaranty
• E) Guaranty; suretyship

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Definitions:

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