A(n)________ is secondarily liable for the debt of the principal debtor.
A)surety
B)guarantor
C)beneficiary
D)executor

Name: A(n)________ is secondarily liable for the debt of the principal debtor. A)surety B)guarantor C)beneficiary D)executor
Brand: Quizplus
Rating: 4.8 (32 reviews)

Question

Quizplus · Accepted Answer

While a surety is primarily liable,a guarantor is secondarily liable and can be held to his guarantee only after the principal defaults and cannot be held to his promise or payment.

A(n)________ Is Secondarily Liable for the Debt of the Principal