Question

O
None of these
2 points
In a contract of guarantee, a
person who promises to
discharge another's liability is
called *
O Principal Debtor
O Creditor
O Surety
O Indemnifier
​

Answer 1

Ans: Surety

Surety provides guarantee only when requested by the principal debtor in a contract of guarantee. Indemnifier is not required to act at the request of the debtor, in a contract of indemnity. In a contract of guarantee, there is an existing liability for debt or duty, surety guarantees the performance of such liability.