A Guarantor Can Be Required to Pay an Obligation Only

question 61

True/False

A guarantor can be required to pay an obligation only after the principal debtor defaults.

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Definitions:

Quota

A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specific time period.

Peppermint Candy Canes

Traditional Christmas sweets with a distinctive red and white striped pattern, flavored with peppermint.

Sugar

A sweet-tasting, soluble carbohydrate found in many plants, commonly used as a sweetener in foods and drinks.

United States

A country in North America consisting of 50 states and is known for its significant influence in global economics, politics, and culture.