Orlando opened a hot dog stand in Brooklyn which unfortunately did not earn him a profit. He had borrowed $5,000 from the bank to set it up, which had to be repaid to the bank in two days. However, Orlando's friend Bob agreed to partner with him starting the subsequent month. From which of the following sources can the bank recover its $5,000 with interest?

Question

Quizplus · Accepted Answer

The bank can legally recover its loan from Orlando's bank accounts, as these are directly associated with him and his financial obligations. Other options like a secondary financer, family, or a prospective business partner (Bob) are not legally obligated to repay Orlando's personal debt to the bank.

Orlando Opened a Hot Dog Stand in Brooklyn Which Unfortunately