An arrangement in which a third party promises to be primarily liable with the borrower for the payment of the borrower's debt is referred to as a(n) ________

A) garnishment
B) accommodation
C) surety arrangement
D) guaranty arrangement

C

Business

You might also like to view...

During which stage of the listening process does the listener analyze the quality of the information?

A) Receiving B) Decoding C) Remembering D) Evaluating E) Responding

Business

The nominal interest rate is 7% and the expected inflation rate is 2%. Based on the Fisher effect, the

real rate of interest is A) 6.86%. B) 5.0%. C) 4.9%. D) 5.1%.

Business