Engineering Board Exam Reviewer · ECE · medium
A contract in which a party agrees to answer for the debt of another if the latter fails to pay is a contract of:
- Agency
- Deposit
- Partnership
- Guaranty (suretyship if solidary)
Answer
D. Guaranty (suretyship if solidary)
Solution
Article 2047. A surety is solidarily liable with the debtor.
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