7. In a contract of sale, a surety and a guarantor joined the vendor in the same contract, assuring the performance of the obligations therein. The vendor failed to comply with his obligation and they were all sued in the same action. Both the surety and the guarantor were adjudged in default, and the judgment rendered became final. Can the surety and the guarantor successfully oppose the levy on execution issued against them on the ground that the action against the vendor is still pending? Reasons.

8. KARKAR and KORKOR executed a promissory note binding themselves, jointly and severally, to pay BBANK P200,000 within 90 days from January 10, 2020. KARKAR signed the note as a principal and KORKOR as a guarantor. Upon failure to pay the note on the due date, BBANK sued KARKAR and KORKOR for payment. KORKOR interposed the defense that he is just a guarantor and BBANK must first exhaust all the remedies against the principal KARKAR. Is KORKOR's defense tenable?