Rhodes, a college student, wants to purchase a motorcycle on credit from Landier Motors. He does not have sufficient income or the credit history to justify the extension of credit to him alone. Rhodes asks his father to cosign a note to Landier Motors, which he does. What kind of liability does Rhodes's father come under?
A) secondary liability
B) primary liability
C) fringe liability
D) warranty liability
Correct Answer:
Verified
Q25: An unqualified indorser has secondary liability on
Q26: Calvin, a college student, wants to purchase
Q27: What are the requirements for imposing secondary
Q28: Maria is the treasurer of Rex Caldwell
Q29: A person represented by an agent is
Q31: The _ states that a drawer or
Q32: A purported principal is liable for an
Q33: Which of the following is a similarity
Q34: Cameron, a purported agent, signs a contract
Q35: Martha draws a check payable to the
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents