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1. Which of the following is correct regarding a guaranty contract? A guaranty contract is different from a suretyship contract in that the promisor agrees
1. Which of the following is correct regarding a guaranty contract? A guaranty contract is different from a suretyship contract in that the promisor agrees to answer for the obligation of another person. The guarantor joints the principal in making a promise. The guarantor makes a separate promise and agrees to be liable upon the happening of a certain event. The guarantor is primarily liable for the debt
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