Rico signs a lease on behalf of Start-Up Games, Inc., with Tower Office Suites. As part of the lease, Rico signs a document titled "GUARANTY," which states that it is "an absolute guaranty" of the lease's performance.
-Refer to Fact Pattern 25-3.If Evermore insists that Dayna sign the loan application,making her personally liable for payment only if Chocolate! Chocolate! defaults,Dayna will be

Question

Quizplus · Accepted Answer

A guarantor is someone who agrees to pay a debt or fulfill a contractual obligation if another party fails to do so. In this scenario, if Chocolate! Chocolate! defaults on the loan, Dayna would be responsible for paying it. This makes her a guarantor.

Rico Signs a Lease on Behalf of Start-Up Games, Inc