TB MC Qu. 28-22 Which of the following is correct regarding... Which of the following is correct regarding a guaranty contract? Multiple Choice O The guarantor makes a separate promise and agrees to be liable upon the happening of a certain event. O The guarantor is primarily liable for the debt. O A guaranty contract is different from a suretyship contract in that the promisor agrees to answer for the obligation of another person. O The guarantor joints the principal in making a promise