Multiple Choice
Which of the following is true of a guarantor in a guaranty arrangement?
A) The guarantor is secondarily liable to the principal debtor's debt when it is due.
B) The guarantor can be approached even if the principal debtor is not in default.
C) The creditor can seek first remedy from a guarantor.
D) The guarantor has full legal rights to possession of the real property in this type of arrangement.
Correct Answer:
Verified
Correct Answer:
Verified
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