Question: By (___) a person, called the guarantor, binds himself to the creditor to fulfill the obligation of the principal debtor in case the latter should

By (___) a person, called the guarantor, binds himself to the creditor to fulfill the obligation of the principal debtor in case the latter should fail to do so

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Law Questions!

For billing purposes, assume Phoenix Family Medical Clinic classifies its services into one of four major procedures, X1 through X4. A local business has proposed that Phoenix provide health services...

CASE DIGEST FIND THE facts , issue & ruling GR. No. 147561 June 22, 2006 STRONGHOLD lNSURANCE COMPANY, INC., Petitioner, vs. REPUBLIC-ASAHI GLASS CORPORAHON. Respondent. o E c I s I o N PANGANIBAN....

1. One of the parties delivers to another, either something not consumable so that the latter may use the same for a certain time and return it. a. Mutuum b. Commodatum c. Barter d. Dacion en pago 2....

Matching Type 1. If a duly authorized agent acts in accordance with the orders of the principal, the latter cannot set up the _______ of the agent as to circumstance whereof he himself was, or ought...

1. Ara, Bella and Casey jointly and in the same contract sold to Dahlia an undivided piece of land with the right to repurchase. In this connection, the following statements are true except: A. Ara...

What are your verdicts in these situations? 1. Ara, Bella and Casey jointly and in the same contract sold to Dahlia an undivided piece of land with the right to repurchase. In this connection, the...

1. Mr., Edwards, a former policeman, was hired to do investigations for the stock exchange When it was found out that Edwards had cheated on the examination required by the stock exchange. he was...

OBLIGATIONS AND CONTRACTS (Arts. 1169-1178, Civil Code of the Philippines) Questions: 1. B and C entered into a contract wherein B would deliver to C 10 cases of softdrinks on March 30, 2022. B...

Choose the correct answer Multiple Choice: Write the letter of correct answer on the space provided before each number. 1. A contract that can stand by itself is known as: a. Accessory contract b....

Answer all correctly __________________ 1. Contract whereby one delivers to another money or other consumable things provided the same amount or quality shall be related/paid. __________________ 2....

Questions (71-100) 71. The duty not to recover what has voluntarily been paid although payment was no longer required. Group of answer choices Natural obligation Civil obligation Moral obligation...

Here is the balance sheet of Ayanda Qabula on 1 January 2018: Sundry creditors R 7 000 Cash R 1 000 Creditors R 11 000 Sundry debtors R 4 000 Bills receivables R 2 000 Inventory R 5 000 Machinery R 2...

a) Discuss THREE (3) of the methods can be applied in estimating the immediate settlement for fine grained by providing the relevant formulas and assumptions made for each. (6 marks) b) A square...

In the Month of March, Digby received orders of 1 8 5 units at a price of $ 1 5 . 0 0 for their product Dino, and in April receives an order for 4 6 units of their product Dino at $ 1 5 . 0 0 . Digby...

A company issues 1,050 shares of its common stock for $33,600 cash. Prepare journal entries to record this event under each of the following separate situations.