Answered

Westonci.ca is your trusted source for accurate answers to all your questions. Join our community and start learning today! Get detailed and accurate answers to your questions from a community of experts on our comprehensive Q&A platform. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

Which of the following is true of suretyship and guaranty agreements?

A. The principles relating to formation, capacity, validity, and interpretation of contracts do not apply to suretyship and guaranty agreements.
B. Contracts of suretyship and guaranty need to be evidenced by record when the promise is made primarily for the promisor's benefit.
C. Suretyship or guaranty created at the same time as the original transaction requires the same consideration for the original promise as for the promise of the guarantor.
D. Suretyship or guaranty created subsequent to the original transaction requires no new consideration for the promise of the guarantor.

Sagot :

GinnyAnswer

Final answer:

The answer clearly explains the true statements regarding suretyship and guaranty agreements.


Explanation:

Of the given statements regarding suretyship and guaranty agreements:

  1. Statement a: The principles relating to the formation, capacity, validity, and interpretation of contracts do apply to suretyship and guaranty agreements.
  2. Statement b: Contracts of suretyship and guaranty do need to be evidenced by record when the promise is made primarily for the promisor's benefit.
  3. Statement c: Suretyship or guaranty created at the same time as the original transaction requires the same consideration for the original promise as for the promise of the guarantor.
  4. Statement d: Suretyship or guaranty created subsequent to the original transaction requires no new consideration for the promise of the guarantor.

Therefore, statements a, b, and c are true of suretyship and guaranty agreements.


Learn more about Suretyship and Guaranty Agreements here:

https://brainly.com/question/44378922


We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.