Question

In a contract of guarantee, there are

(A) One contract

(B) Two contract

(C) Three contract

(D) Four contract

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Answer 1

Answer:

In a contract of guarantee, there are three parties to a contract namely surety, principal debtor and creditor whereas in case of indemnity there are only two parties to a contract, promisor, and promisee. ... Surety provides guarantee only when requested by the principal debtor in a contract of guarantee.

Explanation:

(B) Two Contact is the answer

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