Asked by
Maryam Bintumar
on Nov 10, 2024
Verified
Any substantial change in the nature of the contract between the creditor and the debtor without the guarantor's consent will relieve the guarantor of any obligation.
Guarantor
A person or entity that agrees to be responsible for another's debt or obligations in the event that the latter defaults or fails to meet their contractual obligations.
- Acquire an understanding of the diverse statutes associated with banking, secured dealings, and solutions for default situations.
Verified Answer
TP
Learning Objectives
- Acquire an understanding of the diverse statutes associated with banking, secured dealings, and solutions for default situations.
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