Multiple Choice
Which of the following best describes the right to indemnity?
A) It is the right of a creditor to receive interest on the debt.
B) It is the right of a principal to receive compensation from the creditor.
C) It is the right of a guarantor to be reimbursed by the principal.
D) It is the right of a creditor to withhold payment in the case of a dispute.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Which of the following is true of
Q2: A surety or guarantor may call on
Q4: A contract of suretyship is an agreement
Q5: A buyer has the right to transfer
Q6: A creditor may sell the collateral at
Q7: A material change in the terms of
Q8: Most contracts of surety need not be
Q9: A party who has primary liability is
Q10: A security agreement contains the terms of
Q11: If a creditor damages collateral security given