Multiple Choice
With regard to guarantees and indemnities, which of the following is False?
A) A guarantor can use any defence against the creditor that the debtor could use.
B) A legally binding promise to be primarily responsible for someone else's obligation is an indemnity.
C) A guarantee cannot be enforced in court unless it satisfies the writing requirements set out in statute.
D) Subrogation can result in a guarantor's being able to sue successfully the very debtor whose obligation he guaranteed.
E) A legally enforceable guarantee must satisfy all the elements required to create a binding contract except consideration.
Correct Answer:

Verified
Correct Answer:
Verified
Q18: Greg told Rick that he would be
Q20: If you want to buy a car
Q28: After a creditor has taken possession of
Q42: Some debtors can submit a reorganization proposal
Q58: The bulk sales acts in place in
Q60: "Joe bought a car from Harry's Fine
Q61: Identify which of the following statements is
Q92: Elizabeth gave a guarantee to the Bank
Q101: In a secured transaction pursuant to the
Q104: When the transaction is registered, the creditor's