Jared is a surety for Alfred's loan from Hometown Bank.Alfred defaults on his loan.As a surety,Jared can
A) assert Alfred's bankruptcy,but not the statute of limitations as a defense to avoid liability.
B) assert the statute of limitations,but not Alfred's bankruptcy as a defense to avoid liability.
C) assert neither the statute of limitations nor Alfred's bankruptcy as a defense to avoid liability.
D) assert either Alfred's bankruptcy or the statute of limitations as a defense to avoid liability.
Correct Answer:
Verified
Q23: A court awards a judgment to Alice,who
Q24: Friendly Credit Corporation (FCC) believes that Gary
Q43: Khali's debt to Lew is past due.
Q45: Fact Pattern 33-1 (Questions 14-15 apply)
Alpha Corporation
Q49: Fact Pattern 33-2 (Questions 18-19 apply)
Amy signs
Q51: Ronald's debt to Greg is past due.Ronald
Q56: Donald's debt to Everett is past due.
Q59: Dina asks Edie to co-sign a credit
Q62: Ross and Sally agree to guarantee Tim's
Q68: Jay is a surety for Karen's loan
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