The agreement entered into between Sean and the bank is called what?

A) A suretyship
B) A guaranty
C) A certified agreement
D) An acknowledged agreement
E) An executory promise

The agreement between Sean and the bank is called a guaranty. In a guaranty, one party (the guarantor, in this case, Sean) agrees to fulfill the obligation of another party (the principal, in this case, Allison) if the principal fails to fulfill their obligation to a third party (the creditor, in this case, the bank). This is distinct from a suretyship, where the surety is equally liable with the principal from the beginning.