In contract of guarantee, the person in respect of whose default the guarantee is given, is known as: A. Creditor B. Surety C. Principal debtor D. Debtor

In contract of guarantee, the person in respect of whose default the guarantee is given, is  known as:
A. Creditor
B. Surety
C. Principal debtor
D. Debtor
by

1 Answer

Answer :

C. Principal debtor
by

Related questions

In contract of guarantee, the person to whom guarantee is given is known as: A. Creditor B. Surety C. Principal debtor D. Debtor

Description : In contract of guarantee, the person to whom guarantee is given is known as: A. Creditor B. Surety C. Principal debtor D. Debtor

Last Answer : A. Creditor

In case of Contract of guarantee, if the creditor loses or parts with any security which the debtor provides him at time of contract, the surety is discharged to the extent of (a) The value of the security (b) The surety can be fully discharged (c) The surety can claim damages (d) All of the above

Description : In case of Contract of guarantee, if the creditor loses or parts with any security which the debtor provides him at time of contract, the surety is discharged to the extent of (a) The value of the security (b) The surety can be fully discharged (c) The surety can claim damages (d) All of the above

Last Answer : (a) The value of the security

In case of contract of guarantee, what is the liability of the surety against the principal debtor (a) Primary (b) Secondary (c) No liability (d) Fully liable

Description : In case of contract of guarantee, what is the liability of the surety against the principal debtor (a) Primary (b) Secondary (c) No liability (d) Fully liable

Last Answer : (b) Secondary

Which is not the case of discharge of surety (a) By notice of revocation (b) By death of surety (c) If creditor releases the principal debtor (d) None of the above

Description : Which is not the case of discharge of surety (a) By notice of revocation (b) By death of surety (c) If creditor releases the principal debtor (d) None of the above

Last Answer : (d) None of the above

The person to whom the guarantee is given is called a) Indemnifier b) Principal debtor c) Indemnified d) Creditor

Description : The person to whom the guarantee is given is called a) Indemnifier b) Principal debtor c) Indemnified d) Creditor

Last Answer : d) Creditor

The person who gives the guarantee is called a) A surety b) Guarantee c) Competent d) creditor

Description : The person who gives the guarantee is called a) A surety b) Guarantee c) Competent d) creditor

Last Answer : a) A surety

A continuing guarantee may at any time be revoked by the surety as to future transactions by giving a ____ to the creditor. a) By notice b) By Oral c) By death of surety ` d) none of these

Description : A continuing guarantee may at any time be revoked by the surety as to future transactions by giving a ____ to the creditor. a) By notice b) By Oral c) By death of surety ` d) none of these

Last Answer : a) By notice

A minor was facing a criminal prosecution for smuggling drugs. He borrowed Rs. 5000 to hire an advocate to defend him in the court of law. What is the remedy available to the creditor if the minor does not return the money on his own? A. The creditor cannot recover the amount from the minor since a contract with a minor is void ab initio B. The amount of loan can be recovered from minor’s property since it is a loan for necessaries C. The creditor can recover his amount of loan from the minor on his (minor’s) attaining the age of majority D. The creditor can recover his amount from the parent or guardian of the minor

Description : A minor was facing a criminal prosecution for smuggling drugs. He borrowed Rs. 5000 to hire an advocate to defend him in the court of law. What is the remedy available to the creditor if the ... the age of majority D. The creditor can recover his amount from the parent or guardian of the minor

Last Answer : A. The creditor cannot recover the amount from the minor since a contract with a minor is void ab initio

A stipulation which is essential to the main purpose of the contract and if proved false, gives the buyer a right to terminate the contract, is legally known as A. Condition B. Warranty C. Guarantee D. None of these

Description : A stipulation which is essential to the main purpose of the contract and if proved false, gives the buyer a right to terminate the contract, is legally known as A. Condition B. Warranty C. Guarantee D. None of these

Last Answer : A. Condition

A person who owes money to the business is called 1. creditor 2. proprietor 3. debtor 4. both 1 and 2 5. None of these

Description : A person who owes money to the business is called 1. creditor 2. proprietor 3. debtor 4. both 1 and 2 5. None of these

Last Answer : debtor

Which is an interest-free period that is to be given by a creditor to debtor? A. Fixed Period B. Preset Period C. Grace Period D. None of the Above

Description : Which is an interest-free period that is to be given by a creditor to debtor? A. Fixed Period B. Preset Period C. Grace Period D. None of the Above

Last Answer : C. Grace Period Explanation: The grace period is the provision in most loan and insurance contracts which allows payment to be received for a certain period of time after the actual due date. During ... will be charged, and the late payment will not result in default or cancellation of the loan.

A contract to perform a promise or discharge the liability of a third party is called— A. Contract of indemnity B. Contract of agency C. Contract of guarantee D. Contract of warranty

Description : A contract to perform a promise or discharge the liability of a third party is called— A. Contract of indemnity B. Contract of agency C. Contract of guarantee D. Contract of warranty

Last Answer : C. Contract of guarantee

A ______ is a contract to person the promise or to discharge a liability of a third person in case of his default. a) Contract of indemnity b) contract of guarantee c) Implied contract d) express contract

Description : A ______ is a contract to person the promise or to discharge a liability of a third person in case of his default. a) Contract of indemnity b) contract of guarantee c) Implied contract d) express contract

Last Answer : b) contract of guarantee

The person whose loss is to be made good is called the a) Indemnifier b) Principal Debtor c) Indemnity holder d) none of these

Description : The person whose loss is to be made good is called the a) Indemnifier b) Principal Debtor c) Indemnity holder d) none of these

Last Answer : b) Principal Debtor

Why did the US become international creditor from international debtor? -SST 10th

Description : Why did the US become international creditor from international debtor? -SST 10th

Last Answer : . World War I led to the snapping of economic links between some of the world's largest economic powers which were now fighting each other to pay for them. . Britain borrowed large sums of ... So, the US and its citizens owned more overseas assets than foreign governments and citizens owned in US.

Creditor, Objection to Debtor Offset?

Description : Creditor, Objection to Debtor Offset?

Last Answer : Creditor, Objection to Debtor Offset(Download)Date:Name of Debtor (Person Owing Debt)Address:Dear Sir or Madam:We acknowledge receipt of your check tendered in the amount of $_________, which we accept as ... , comment, or other written item on the face of a check objecting to the charges and stati

Who determines the amount of claim due to a creditor under the Insolvency and Bankruptcy Code, 2016? a) Committee of Creditors b) Resolution Professional c) Adjudicating Authority d) Corporate Debtor

Description : Who determines the amount of claim due to a creditor under the Insolvency and Bankruptcy Code, 2016? a) Committee of Creditors b) Resolution Professional c) Adjudicating Authority d) Corporate Debtor

Last Answer : b) Resolution Professional

Share holder are____________ A. Creditor Of Company B. Debtor of Company C. Owner of Company D. Members of Company

Description : Share holder are____________ A. Creditor Of Company B. Debtor of Company C. Owner of Company D. Members of Company

Last Answer : C. Owner of Company

Debenture holder are____________ A. Creditor Of Company B. Debtor of Company C. Owner of Company D. Members of Company

Description : Debenture holder are____________ A. Creditor Of Company B. Debtor of Company C. Owner of Company D. Members of Company

Last Answer : A. Creditor Of Company

Which of the following is false with respect to minor entering a contract? A. An agreement with or by a minor is void ab initio B. A minor can be a beneficiary of a contract C. The contracts involving a minor as a beneficiary may be enforced at the option of the third party D. A minor cannot ratify a contract on attaining majority

Description : Which of the following is false with respect to minor entering a contract? A. An agreement with or by a minor is void ab initio B. A minor can be a beneficiary of a contract C. The ... be enforced at the option of the third party D. A minor cannot ratify a contract on attaining majority

Last Answer : C. The contracts involving a minor as a beneficiary may be enforced at the option of the third party

___________ is the risk that an issuer will fail to satisfy the terms of the agreement with respect to the timely payment of interest and principal. a) Default risk b) Credit spread risk c) Volatility risk d) Downgrade risk

Description : ___________ is the risk that an issuer will fail to satisfy the terms of the agreement with respect to the timely payment of interest and principal. a) Default risk b) Credit spread risk c) Volatility risk d) Downgrade risk

Last Answer : a) Default risk

The liability of members if company is limited by shares A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above

Description : The liability of members if company is limited by shares A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above

Last Answer : B. Guarantee amount

The liability of members if company is limited by guarantee. A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above

Description : The liability of members if company is limited by guarantee. A. Unpaid value of shares B. Guarantee amount C. Unlimited liability D. None of the above

Last Answer : A. Unpaid value of shares

The credit default spread method of valuation of a guarantee given by a parent company on behalf of its subsidiary involves estimating the value ____________. a) using credit default spread based on the credit rating of the subsidiary b) using credit default spread based on the credit rating of the guarantor c) based on probability of default d) of the guarantee using an option pricing model

Description : The credit default spread method of valuation of a guarantee given by a parent company on behalf of its subsidiary involves estimating the value ____________. a) using credit default spread based on ... guarantor c) based on probability of default d) of the guarantee using an option pricing model

Last Answer : a) using credit default spread based on the credit rating of the subsidiary

The delivery of goods by one person to another for some purpose, upon a contract and that they shall, when the purpose is accomplished, be returned or otherwise disposed of by accounting to the directions of the person delivering them, then it is called: A. Contingent contract B. Bailment C. Pledge D. Contract of indemnity

Description : The delivery of goods by one person to another for some purpose, upon a contract and that they shall, when the purpose is accomplished, be returned or otherwise disposed of by accounting to the ... then it is called: A. Contingent contract B. Bailment C. Pledge D. Contract of indemnity

Last Answer : B. Bailment

Which of the following persons are not competent to contract? A. Minor B. Person disqualified by law C. Person of unsound mind D. All of the above

Description : Which of the following persons are not competent to contract? A. Minor B. Person disqualified by law C. Person of unsound mind D. All of the above

Last Answer : D. All of the above

When making payments on a debt, is it legal to request of the creditor that payments be applied to the principal only?

Description : When making payments on a debt, is it legal to request of the creditor that payments be applied to the principal only?

Last Answer : answer:The contract should state whether you can pay extra payments toward principal or not, or if a pre-payment penalty will be incurred. Most reputable companies will let you pay toward the principal, ... that is where they make their money. The principal is what they risked, not what they gain.

Carrying the line of only one manufacturer is known as A. Exclusive assortment B. Open bid C. Negotiated contract D. Deep assortment

Description : Carrying the line of only one manufacturer is known as A. Exclusive assortment B. Open bid C. Negotiated contract D. Deep assortment

Last Answer : A. Exclusive assortment

Pre incorporation contract is also known as _________ A. Provisional B. Preliminary C. Illegal D. Legal

Description : Pre incorporation contract is also known as _________ A. Provisional B. Preliminary C. Illegal D. Legal

Last Answer : A. Provisional

A contract by which one party promises to save the other from loses caused to him by the conduct of the promise himself or by the conduct of any other person is called a ________ a) Contract of indemnity b) Contract of guarantee c) Quasi contract d) none of these

Description : A contract by which one party promises to save the other from loses caused to him by the conduct of the promise himself or by the conduct of any other person is called a ________ a) Contract of indemnity b) Contract of guarantee c) Quasi contract d) none of these

Last Answer : a) Contract of indemnity

The contractor provides the financing and is paid an agreed fraction of actual savings achieved. This payment is used to pay down the debt costs of equipment and/or services. This is known as a) traditional contract b) extended technical guarantee/service c) performance Contract d) shared savings performance contrac

Description : The contractor provides the financing and is paid an agreed fraction of actual savings  achieved. This payment is used to pay down the debt costs of equipment and/or services.  ... contract b) extended technical guarantee/service c) performance Contract d) shared savings performance contrac

Last Answer : d) shared savings performance contrac

A stipulation which is essential to the main purpose of the contract and if prove false give the buyer a right terminate the contract is legally known as a) guarantee b)condition c) warranty d)none of these

Description : A stipulation which is essential to the main purpose of the contract and if prove false give the buyer a right terminate the contract is legally known as a) guarantee b)condition c) warranty d)none of these

Last Answer : c) warranty

The unpaid principal balance of a loan on property divided by the asset‟s appraised value is termed as ______ A. Liquidity Adjustment Facility B. Loss Given Default(LGD) C. Loan to Value(LTV) D. Long term liabilities

Description : The unpaid principal balance of a loan on property divided by the asset‟s appraised value is termed as ______ A. Liquidity Adjustment Facility B. Loss Given Default(LGD) C. Loan to Value(LTV) D. Long term liabilities

Last Answer : C. Loan to Value(LTV) Explanation: The loan-to-value (LTV) ratio is a financial term used by lenders to express the ratio of a loan to the value of an asset purchased. The term is ... to represent the ratio of the first mortgage lien as a percentage of the total appraised value of real property.

The consumers have an implied_____________ with the corporations A. Quasi Contract B. Social Contract C. Legal Contract D. None of the above

Description : The consumers have an implied_____________ with the corporations A. Quasi Contract B. Social Contract C. Legal Contract D. None of the above

Last Answer : B. Social Contract

The most influential theory of corporate responsibility of the past century is: A. The moral minimum model. B. The classical model. C. The social contract theory. D. The stakeholder theory.

Description : The most influential theory of corporate responsibility of the past century is: A. The moral minimum model. B. The classical model. C. The social contract theory. D. The stakeholder theory.

Last Answer : B. The classical model.

The most influential theory of corporate responsibility of the past century is: A. The moral minimum model. B. The classical model. C. The social contract theory. D. The stakeholder theory.

Description : The most influential theory of corporate responsibility of the past century is: A. The moral minimum model. B. The classical model. C. The social contract theory. D. The stakeholder theory.

Last Answer : B. The classical model.

A firm that bases its price on how it thinks the competitors will price, rather than on its own costs or demand, to win a contract is most likely using A. Going-rate pricing B. Cost-plus pricing C. Perceived-value pricing D. Sealed-bid pricing

Description : A firm that bases its price on how it thinks the competitors will price, rather than on its own costs or demand, to win a contract is most likely using A. Going-rate pricing B. Cost-plus pricing C. Perceived-value pricing D. Sealed-bid pricing

Last Answer : C. Perceived-value pricing

A stipulation in contract of sale with reference to goods which are the subject there of may be A. A condition B. A warranty C. Both (a) and (b) D. None of above

Description : A stipulation in contract of sale with reference to goods which are the subject there of may be A. A condition B. A warranty C. Both (a) and (b) D. None of above

Last Answer : C. Both (a) and (b)

According section 5(2) subject to provision of any law for the time being in force a contract of sale may be A. Made in writing B. By words of mouth C. Partly in writing or partly in words of mouth D. All above ways

Description : According section 5(2) subject to provision of any law for the time being in force a contract of sale may be A. Made in writing B. By words of mouth C. Partly in writing or partly in words of mouth D. All above ways

Last Answer : A. Made in writing

Where the transfer of the property in the goods is to take place at a future time or subject to some condition, then such contract is called: A. An agreement to sell B. A contract to Sale C. Future Contract D. Conditional contract

Description : Where the transfer of the property in the goods is to take place at a future time or subject to some condition, then such contract is called: A. An agreement to sell B. A contract to Sale C. Future Contract D. Conditional contract

Last Answer : A. An agreement to sell

A warranty is a stipulation which is A. Essential to the main purpose of contract of sale. B. Essential for buyer's specific purpose. C. Collateral to the main purpose of contract of sale. D. None of these

Description : A warranty is a stipulation which is A. Essential to the main purpose of contract of sale. B. Essential for buyer's specific purpose. C. Collateral to the main purpose of contract of sale. D. None of these

Last Answer : C. Collateral to the main purpose of contract of sale.

As per the doctrine of caveat emptor incorporated in Section 16, there is no implied conditions or warranty in a contract of sale as to the A. Merchantability. B. Wholesomeness. C. Quality or fitness for buyer's purpose. D. None of these.

Description : As per the doctrine of caveat emptor incorporated in Section 16, there is no implied conditions or warranty in a contract of sale as to the A. Merchantability. B. Wholesomeness. C. Quality or fitness for buyer's purpose. D. None of these.

Last Answer : C. Quality or fitness for buyer's purpose.

The goods identified and agreed upon at the time a contract of sale is made are called A. Ordinary goods B. Specified goods C. Scheduled goods D. None of above

Description : The goods identified and agreed upon at the time a contract of sale is made are called A. Ordinary goods B. Specified goods C. Scheduled goods D. None of above

Last Answer : B. Specified goods

Future goods mean goods to be manufactured or produced or acquired by the seller A. In future prescribed time B. After making of contract C. Before making of contract D. None of above

Description : Future goods mean goods to be manufactured or produced or acquired by the seller A. In future prescribed time B. After making of contract C. Before making of contract D. None of above

Last Answer : B. After making of contract

Voidable contract is one A. Which is lawful. B. Which is invalid. C. Which is valid as long as it is not avoided by the party entitled to do so. D. Which is unlawful.

Description : Voidable contract is one A. Which is lawful. B. Which is invalid. C. Which is valid as long as it is not avoided by the party entitled to do so. D. Which is unlawful.

Last Answer : C. Which is valid as long as it is not avoided by the party entitled to do so.

Where a contract has to be inferred from the conduct of parties, it is called A. Express contract. B. Implied contract. C. Tacit contract. D. Unlawful contract

Description : Where a contract has to be inferred from the conduct of parties, it is called A. Express contract. B. Implied contract. C. Tacit contract. D. Unlawful contract

Last Answer : B. Implied contract.

Anuj agrees to pay ` 10,000 to Manoj if a certain ship returns within a year. However, the ship sinks within the year. In this case, the contract becomes: A. Valid B. Void C. Voidable D. Illegal

Description : Anuj agrees to pay ` 10,000 to Manoj if a certain ship returns within a year. However, the ship sinks within the year. In this case, the contract becomes: A. Valid B. Void C. Voidable D. Illegal

Last Answer : B. Void

Deepak, Ashwani and Tarun jointly promised to pay ` 90,000 to Pradeep. Deepak was compelled by Pradeep to pay the entire amount of ` 90,000. Here: A. Deepak can file a suit against Pradeep for recovery of amount exceeding his share. B. Deepak is entitled to recover ` 30,000 each from Ashwani and Tarun C. On payment by Deepak, the contract is discharged and Ashwani and Tarun are also not liable to Deepak. D. Pradeep is not justified here and is liable to refund the entire amount to Deepak.

Description : Deepak, Ashwani and Tarun jointly promised to pay ` 90,000 to Pradeep. Deepak was compelled by Pradeep to pay the entire amount of ` 90,000. Here: A. Deepak can file a suit against Pradeep for ... to Deepak. D. Pradeep is not justified here and is liable to refund the entire amount to Deepak.

Last Answer : B. Deepak is entitled to recover ` 30,000 each from Ashwani and Tarun

Sonia contracts with Anshul to buy a necklace, believing it is made of pearls whereas in fact it is made of imitation pearls of no value. Anshul knows that Sonia is mistaken and takes no steps to correct the error. Now Sonia wants to cancel the contract on the basis of fraud. Which of the following statement is correct? A. Sonia can cancel the contract alleging fraud B. Sonia cannot cancel the contract C. Sonia can cancel the contract alleging undue influence D. Sonia can claim damages

Description : Sonia contracts with Anshul to buy a necklace, believing it is made of pearls whereas in fact it is made of imitation pearls of no value. Anshul knows that Sonia is mistaken and takes no steps ... the contract C. Sonia can cancel the contract alleging undue influence D. Sonia can claim damages

Last Answer : B. Sonia cannot cancel the contract

In Indian Contract Act, the term consensus ad idem means A. Parties under a mistake B. Parties under the free consent C. Parties agreeing upon the same thing in same sense D. None of these

Description : In Indian Contract Act, the term consensus ad idem means A. Parties under a mistake B. Parties under the free consent C. Parties agreeing upon the same thing in same sense D. None of these

Last Answer : C. Parties agreeing upon the same thing in same sense