Which of the following would a business law professor most likely indicate to be a characteristic of a personal guarantee?

Question

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A personal guarantee is a contract where an individual agrees to take responsibility for repayment of a loan or debt if the borrower defaults. This is usually one component of a larger credit arrangement, and is not independently negotiated. Additionally, common law generally requires creditors to obtain the guarantor's consent before changing loan terms. While guarantors are not typically compelled to sign, they may need to do so in order for the loan to be granted. Therefore, choice D is the most accurate characteristic of a personal guarantee.

Which of the Following Would a Business Law Professor Most