Multiple Choice
A surety that has made payment of a claim for which it was liable as a surety is entitled to which of the following from the principal?
A) indemnity
B) exoneration
C) assignment
D) subrogation
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q10: Standby letters of credit are used only
Q20: If a debtor is about to leave
Q43: Suretyship, guaranty, and indemnity contracts all create
Q43: When a suretyship or guaranty contract is
Q45: Sound business practice dictates the use of
Q47: A letter of credit must be in
Q50: Typically, there are how many parties to
Q51: If an issuer requests its correspondent bank
Q52: When a surety pays a claim that
Q53: If there are two or more sureties