Dina asks Edie to co-sign a credit application so that she can borrow money and buy a truck from Finest Quality Motors.
-Refer to Fact Pattern 25-1.If Edie signs the application only after language is included that requires Finest to exhaust its legal remedies against Dina before looking to her,then Edie is

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A guarantor is someone who agrees to pay back the debt if the borrower defaults, but does not have any ownership interest in the asset being purchased. In this case, Edie is only a guarantor since she is not a co-owner of the truck. She is not a surety because a surety is a third party that agrees to be responsible for the debt if the borrower defaults, but is equally liable for the debt as the borrower. By requiring Finest Quality Motors to exhaust its legal remedies against Dina before looking to her, Edie is limiting her liability to the amount that Finest cannot recover from Dina, making her a guarantor only.

Dina Asks Edie to Co-Sign a Credit Application So That