True/False
A surety that has made payment of a claim for which it was liable as surety is not entitled to indemnity from the principal debtor.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
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
Q43: Exoneration is an agreement that a party
Q46: A letter of credit cannot extend for
Q47: Sureties have no rights to protect them
Q48: A third party arrangement occurs when a
Q49: When a surety pays a claim that
Q51: If an issuer requests its correspondent bank
Q52: An absolute guaranty creates the same obligation