Chapter 29 Other Creditors’ Rights and Suretyship. §1: Laws Assisting Creditors. Liens: Consensual. Statutory. Judicial. Other Remedies: composition agreements, ABC’s. Suretyship. Liens . Consensual Liens. Personal property as collateral (UCC Art. 9 UCC Secured Transactions).
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Promise by a third person (Surety/ Guarantor) to pay a the Creditor a debt owed by Debtor in the event the Debtor does not pay.