A(n) __________ is an undertaking by one person, for consideration, to pay another person a sum of money in the event of a specified loss.
A) absolute guaranty
B) indemnity contract
C) guaranty of payment
D) suretyship
Question 2
Debbie Forester has passed away leaving a will that leaves all of her property to her children. The will provides that in the event one of her children predeceases her that the deceased child's inheritance is to be given equally to the deceased child's children. Debbie had three children: Anna, Ziggy, and Freud. Freud died prior to Debbie's passing. Freud had three children: Tolstoy, Boris, and Pasternak. The executor of Debbie's will is unclear about how to distribute the property shares. If the estate is distributed per stirpes, which of the following is correct?
A)Anna, 1/5, Ziggy 1/5. and Tolstoy, Boris, and Pasternak each 1/5
B)Anna and ZIggy each get one-half
C)Anna, 1/3. Ziggy, 1/3, and Tolstoy, Boris, and Pasternak each get 1/3
D)Anna, 1/3, Ziggy, 1/3, and Tolstoy, Boris, and Pasternak each get 1/9
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