Suppose that a clause in the contract between Air Ruidoso and Executive Aviation provides that if the

Question:

Suppose that a clause in the contract between Air Ruidoso and Executive Aviation provides that “if the airline becomes insolvent, Braden Fasco, the chief executive offi cer of Air Ruidoso, agrees to cover its outstanding debts.” Is this a suretyship or a guaranty agreement?

Fantastic news! We've Found the answer you've been seeking!