Question

What is difference between specific and continuing guarantee?

Answer 1

Answer:

Specific Guarantee: A specific guarantee is for a single debt or any specified transaction. It comes to an end when such debt has been paid. ... A continuing guarantee applies to all the transactions entered into by the principal debtor until it is revoked by the surety.

Explanation:

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Answer 2

Answer:

Specific Guarantee: A specific guarantee is for a single debt or any specified transaction. It comes to an end when such debt has been paid. ... A continuing guarantee applies to all the transactions entered into by the principal debtor until it is revoked by the surety.

Explanation:

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