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A continuing guarantee applies to:
- a)a specific transaction
- b)a specific number of transactions
- c)all transactions of specific transaction series
- d)reasonable number of transactions.
Correct answer is option 'C'. Can you explain this answer?
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A continuing guarantee applies to:a)a specific transactionb)a specific...
Continuing Guarantee
- Definition: A continuing guarantee is a type of guarantee that applies to all transactions of a specific transaction series.
- Scope: It covers a series of transactions rather than just a single transaction.
- Duration: The guarantee remains in effect until it is revoked or the specified transaction series comes to an end.
- Responsibility: The guarantor is liable for all transactions within the specified series, even if they occur over an extended period of time.
- Legal Implications: It is important for both the guarantor and the beneficiary to clearly understand the scope and duration of a continuing guarantee to avoid any misunderstandings in the future.
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A continuing guarantee applies to:a)a specific transactionb)a specific number of transactionsc)all transactions of specific transaction seriesd)reasonable number of transactions.Correct answer is option 'C'. Can you explain this answer?
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A continuing guarantee applies to:a)a specific transactionb)a specific number of transactionsc)all transactions of specific transaction seriesd)reasonable number of transactions.Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about A continuing guarantee applies to:a)a specific transactionb)a specific number of transactionsc)all transactions of specific transaction seriesd)reasonable number of transactions.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A continuing guarantee applies to:a)a specific transactionb)a specific number of transactionsc)all transactions of specific transaction seriesd)reasonable number of transactions.Correct answer is option 'C'. Can you explain this answer?.
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