Multiple Choice
Which of the following statements is true of a guaranty contract?
A) The guaranty contract is between the guarantor and the debtor.
B) A guaranty contract need not be in writing.
C) The guarantor's liability is secondary.
D) The original contract is between the creditor and the guarantor.
Correct Answer:
Verified
Correct Answer:
Verified
Q3: Jim's landlord insists on a written agreement
Q4: Explain the creation and working of guaranty
Q5: Section 2-201(1) of the Uniform Commercial Code
Q6: The main purpose exception to the Statute
Q7: Statute of Frauds is a state statute
Q9: Which of the following is an example
Q10: The Uniform Commercial Code (UCC) does not
Q11: If Johnny made an oral contract to
Q12: Why is it a bad idea for
Q13: Section 2A-201(1) of the Uniform Commercial Code