To Be Relieved of Obligations as Surety,a Compensated Surety Must

question 54

Multiple Choice

To be relieved of obligations as surety,a compensated surety must show that:

• A)he is secondarily liable for the payment of the debt.
• B)a change in the contract was material and prejudicial to him.
• C)he lacks the capacity to fulfill his promise.
• D)he has provided adequate collateral to the creditor.

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Definitions:

Alternative Dispute Resolution

A range of processes used to resolve conflicts or disputes without resorting to traditional court litigation, examples include mediation and arbitration.

Techniques

Methods or strategies developed to carry out a particular task or to work towards an objective efficiently.

Civil Case

A non-criminal lawsuit in which one party sues another for the recovery of a private right or compensation for a wrong.

Court System

The judicial structure within a country or a state, composed of various courts handling legal disputes and the administration of justice.