Question

In a guaranty​ situation, the​ _____ contract is between the person who agrees to pay the debt if the primary debtor does not and the original creditor.

Answer 1

In a guaranty​ situation, the​ guaranty contract is between the person who agrees to pay the debt if the primary debtor does not and the original creditor.

The guaranty contract outlines the role of the people in the agreement. It shows the lender to borrow agreement and obligation. This agreement serves as a document to make sure the lender has proof in value to get something in return from lending the money.