Asked by
Mubashshira Waqas
on Nov 30, 2024
Verified
The right of exoneration allows the surety to require the principal debtor to pay his obligation to the creditor.
Exoneration
The act of being cleared or absolved from blame, responsibility, obligation, or, specifically in legal terms, criminal charges.
Surety
is a guarantee, usually in the form of a bond, where one party guarantees the debts or obligations of another party to a third party.
- Highlight the unique responsibilities and obligations of a principal debtor, surety, and creditor in the ambit of guarantee agreements.
Verified Answer
LN
Learning Objectives
- Highlight the unique responsibilities and obligations of a principal debtor, surety, and creditor in the ambit of guarantee agreements.
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