Contract of suretyship
ID:CVCSY
Video Overview
In this tutorial we will be discussing contract of suretyship. An adult may sign a surety contract to help their child obtain a car loan, or to start a business or for another transaction considered by the lender to be high-risk. The intention of contract of suretyship is to minimise the risk to the lender, who would rather not spend money on collection agencies or lawyers to secure the repayment of a loan if the borrower defaults.
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