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Get Answers to all your Questions
Sarah acts as a guarantor for John’s car loan. John defaults on his loan payments, and the lender demands payment from Sarah as the guarantor. Sarah fulfills her obligations and pays off the remaining loan amount. In the given case what right does Sarah have as a surety after fulfilling her obligations?
The right to be indemnified by John.
The right to be subrogated to the lender’s rights.
The right to be discharged from her obligations.
All of the above.
Answers (1)
As a surety, Sarah has the right to be indemnified by John, meaning he must reimburse her for any expenses she incurred while fulfilling her obligations. Sarah also has the right to be subrogated to the lender’s rights, which means she can step into the lender’s position and pursue any remedies or claims against John. Lastly, after fulfilling her obligations, Sarah can seek discharge from her obligations as a surety. Hence the correct, option is d.
