Cyclopedia of Commerce, Accountancy, Business Administration, v. 03 (of 10)

by American School of Correspondence

6. Give an example of a suretyship contract.

7. Define promisor.

8. Define creditor to a suretyship contract.

9. Give the different technical names that may be applied to a promisor of a suretyship contract depending upon the nature of the liability.

10. Define surety.

11. Give an example of a contract of a surety.

12. Is the liability of a surety conditional upon that of his principal.

13. Define guarantor.

14. A promises a creditor of B to pay B's debt if B does not. Is A's contract that of a surety or of a guarantor?

15. In commercial practice what form of suretyship contract is most frequently used, that of a surety or of a guarantor?