Alan guarantees Visa that he will pay for his daughter Florence's debt with Visa.If Alan fails to pay Visa,who is liable for Florence's debt?
A) Alan is primarily liable to Visa,the accommodation maker.
B) Florence is primarily liable to Visa,as she was the party who used the credit in the first place.
C) Both Alan and Florence are primarily liable to Visa for Florence's debt.
D) Neither is liable to Visa.
Correct Answer:
Verified
Q42: Which of the following best describes what
Q43: If Bill Snick presents a draft or
Q44: What does it mean for liability on
Q45: What is the effect of the presence
Q48: The transferor of a negotiable instrument warrants
Q50: In order to impose secondary liability,the following
Q51: Betty Bongo,a real estate agent working for
Q52: Which of the following would be considered
Q87: Which of the following parties are liable
Q88: What is the significance of a defense
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