Edward and his wife,Mary,go into a bank.Edward wants to loan $10 000.00 from the bank,but the bank manager wants some kind of security.Because they are in a hurry,Mary says,"Give Edward the money and I will pay Edward's loan." The bank manager looks at her and,being afraid that the bank will not loan Edward the money,Mary says,"Please,if Edward does not pay the loan,I will." The bank manager has Mary sign a document with both of her statements in it.In this situation
A)Mary is an indemnifier.
B)Mary has indemnified the loan to the bank.
C)Mary is a guarantor of Edward.
D)Mary has guaranteed the loan to the bank.
E)all of the above

Question

Quizplus · Accepted Answer

Mary has taken the responsibility of paying Edward's loan if he fails to do so, making her both an indemnifier and a guarantor. She has also guaranteed the loan to the bank, as stated in the document she signed. Therefore, all of the above options are correct.

Edward and His Wife,Mary,go into a Bank