A Continuing Guarantee

Multiple Choice

A continuing guarantee

A) allows a creditor to advance further funds without affecting the obligation of the guarantor to pay in the event of default.
B) is a primary obligation of a third party to pay a debt along with a debtor.
C) is a written commitment not to pursue a legal claim against another.
D) is an equitable principle assuring that when security is repossessed, there will be a period of time during which the debtor can still make payment.
E) allows a breaching party to pay an amount specified in a contract, rather than facing a lawsuit for damages.