What Is a Guaranty Arrangement

Multiple Choice

What is a guaranty arrangement?

A) an agreement under which the guarantor's property can be used to satisfy a debt on which the guarantor defaults
B) an agreement that collateral can be sold without giving notice to the debtor
C) the filing of a security agreement so that others will be aware of it
D) a pledge by a debtor that a loan will be paid in accordance with its terms
E) a promise to pay the debt of another if that other party defaults, and the creditor has attempted unsuccessfully to collect the debt from the debtor