Given below are two statements. One is labelled as Assertion (A) and the other is labelled as Reason (R):
Assertion (A): The liability of the surety is co-executive and it can not go beyond the terms of guarantee
Reasons (R): The rights and liabilities of a surety and borrower are different and distinct and everything depends upon its terms of guarantee
In the light of the above two statements choose the correct option:
1
Both (A) and (R) are true and (R) is the correct explanation of (A)
2
Both (A) and (R) are true and (R) is not the correct explanation of (A)
3
(A) is true, but (R) is false
4
(A) is false, but (R)is true