Steve defaults on a car loan secured by his car and guaranteed by both Sam and Dave. Subrogation would allow Sam, who paid Steve's full obligation to:
A) repossess the car.
B) collect from Dave.
C) collect from Steve.
D) All of these.

Question

Quizplus · Accepted Answer

Subrogation allows Sam to step into the shoes of the lender after paying Steve's obligation, enabling him to repossess the car, collect from Dave, and collect from Steve.

Steve Defaults on a Car Loan Secured by His Car