A Guarantor Is a Person Who

question 39

Multiple Choice

A guarantor is a person who:

• A) joins with the person who is primarily liable in promising to make the payment or to perform the duty.
• B) does not join in making a promise, but makes a separate promise and agrees to be liable on the happening of a certain event.
• C) is paid for serving as a surety, such as a bonding company.
• D) acts as a surety without compensation, such as a friend who cosigns a note as a favor.