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bud is unable to obtain a loan without some form of additional reassurance. bud comes to...

bud is unable to obtain a loan without some form of additional reassurance. bud comes to you for assistant. you are willing to help bud, but you wish to protect yourself from liability as much as possible. would you prefer a surety or a guaranty?
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Answer #1

Answer : I prefer guaranty reason is

The guaranteer does not make his aggrement for principal default but his obloobliga enter into while making original aggrement , and this is not a contract that principal make , hence their must be new consideration to support it

On the other hand surity means

As a general rule durits is a party to original contract as he signs the original aggrement at the same time when the principal signs on it " therefore surity is bound to contact form very beginning

Thank you hope this helps you

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