A Guarantee Is

Multiple Choice

A guarantee is

A) a contract that allows fluctuating debt to be incurred without the provision of additional security.
B) an agreement to repay the obligations of another upon that others default.
C) a contract that has a principal debtor liable for the primary debt and a subsidiary debtor liable for any additional indebtedness.
D) a contract that has a single creditor but more than one primary debtor.
E) a series of transactions between a creditor and its principal debtor that result in a primary debt and contingent liability.