A difference between a surety and a guarantor is that the guarantors:
A)must be paid for their services.
B)should enter into a deed of trust with the creditors.
C)should keep a collateral with the creditors.
D)become liable only if the principal debtor first defaults.

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 Difference Between a Surety and a Guarantor Is That