A guarantor can be required to pay an obligation only after the principal debtor defaults.

Name: A guarantor can be required to pay an obligation only after the principal debtor defaults.
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Question

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A guarantor's obligation to pay only arises after the principal debtor has defaulted on their obligation. This means that the guarantor is not responsible for paying the debt unless the principal debtor fails to do so.

A Guarantor Can Be Required to Pay an Obligation Only