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LEARNING OBJECTIVES
- Understand what a surety is and why sureties are used in commercial transactions.
- Know how suretyships are created.
- Recognize the general duty owed by the surety to the creditor, and the surety’s defenses.
- Recognize the principal obligor’s duty to the surety, and the surety’s rights against the surety.
- Understand the rights among cosureties.
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