For each of the numbered words or phrases, select the one best phrase from the list a through j. Each response may be used only once.

(1) Indemnity contract

(2) Suretyship contract

(3) Surety

(4) Third-party beneficiary

(5) Co-surety

(6) Statute of frauds

(7) Right of contribution

(8) Reimbursement

(9) Subrogation

(10) Exoneration

a. Relationship whereby one person agrees to answer for the debt or default of another

b. Requires certain contracts to be in writing to be enforceable

c. Jointly and severally liable to creditor

d. Promises to pay debt on default of principal debtor

e. One party promises to reimburse debtor for payment of debt or loss if it arises

f. Receives intended benefits of a contract g. Right of surety to require the debtor to pay before surety pays h. Upon payment of more than his/her proportionate share, each co-surety may compel other co-sureties to pay their shares i. Upon payment of debt, surety may recover payment from debtor j. Upon payment, surety obtains same rights against debtor that creditor had AppendixLO1