Multiple Choice
When a surety pays a debt that it is obligated to pay, it automatically acquires the claim and the rights of the creditor through:
A) assignment.
B) exoneration.
C) subrogation.
D) default.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q29: Under the independence rule banks cannot, except
Q30: A letter of credit: _.<br>A) is an
Q31: An agreement or provision in an agreement
Q32: A(n) _ is an undertaking by one
Q33: A letter of credit:<br>A) cannot last for
Q35: Bud is unable to obtain a loan
Q36: A guaranty of payment creates a(n):<br>A) contract
Q37: In a guaranty contract, the obligor is
Q38: In most states contracts of guaranty do
Q39: A surety that has made payment of