Billy wants to borrow $10,000 to start a male belly dancing business.Creditors are not anxious to lend him the funds.Billy convinces Gary to back-up his credit.On the loan,Billy is:

Name: Billy wants to borrow $10,000 to start a male belly dancing business.Creditors are not anxious to lend him the funds.Billy convinces Gary to back-up his credit.On the loan,Billy is:
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Question

Quizplus · Accepted Answer

Billy is the principal because he is the primary party responsible for the loan and the one who is borrowing the money.

Billy Wants to Borrow $10,000 to Start a Male Belly