CBL MCQ Test 1

The person who promises to make good the loss is known as ________.

A Contract of indemnity is a species of the _______ contract.

A contract of guarantee must have all the essential elements of _________.

In case of a contract of indemnity , the liability of the indemnifier arises only on the ________________________.

When a guarantee extends to a series of transactions, it is called __________.

When a debt is guaranteed by two or more sureties, they are called _____________.

Between co-sureties there is _________ of burden and benefit .

On payment of debt , the surety steps in to the shoes of __________.

The liability of the surety is _______ with that of the principal debtor unless it is otherwise provided by the contract.

The death of a surety puts an end to the contact of __________.