Business Studies, asked by jinny779, 1 month ago

explain rights and liabilities of surety?

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Answered by swapnabindutata

Answer:

Rights and Discharge of Surety. A contract of guarantee refers to a contract to perform the promise or discharge the liability of a third person in case of any default by him. Surety is the person giving the guarantee. The person for whom the guarantee is given is the Principle Debtor.

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