The contract of guarantee is a contract in which a person perform the promise or discharge the liability of__________________?
Correct answer: D. Third person
- A. The contractor
- B. Stranger
- C. None of above
- D. Third person
Explanation
Under Section 126, a guarantee is an undertaking to perform the promise or discharge the liability of a third person if that person defaults. That third person is more specifically called the principal debtor.
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Civil law governs disputes involving private rights, including contracts, property, family relations, torts and compensation. The subject explains breach of duty, civil liability, damages, specific relief, injunctions and other remedies, while distinguishing private claims between individuals from criminal proceedings brought to punish offences against the state.
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