A guarantor can limit the amount owing as of a specific date by giving written notice to the bank.
Correct Answer:
Verified
Q56: Why is it important to effect timely
Q57: What is another name for collateral?
A)unregistered lien
B)guarantee
C)security
D)debt
E)indemnity
Q58: A chattel mortgage is:
A)a pledge of real
Q59: Sam Levenson lent $50,000 to Mort's Auto
Q60: A receiver is:
A)a name of one position
Q62: A bank must pay monies due under
Q63: Carol's mother died and Carol inherited a
Q64: A holder in due course may acquire
Q65: If a supplier wants to be able
Q66: A guarantor does not have to pay
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