Multiple Choice
The difference between a guarantee and an indemnity is that
A) indemnities need to be in writing to be enforceable.
B) a guarantee is a conditional promise and an indemnity is not.
C) a guarantee is a promise to assume another's debt.
D) the Statute of Frauds applies to indemnities but not to guarantees.
E) a guarantee is given to a bank and an indemnity is given to a party that is not a bank.
Correct Answer:
Verified
Correct Answer:
Verified
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