Q. Which one of the following is not the feature of the Contract of Guarantee? (Solved)
1. There are two parties in this contract.
2. The liability of surety is secondary.
3. There is an existing debt for which the surety gives guarantee to the creditor on behalf of the principal debtor.
4. The surety gives contract at the request of the principal debtor.
- c. There is an existing debt for which the surety gives guarantee to the creditor on behalf of the principal debtor.