George has signed a promissory note,and Huber,Nick,and Jeffery are cosureties of their friend George.When George defaults,Jeffery pays the whole obligation.Jeffery is entitled to collect one third from both Nick and Huber.This is known as the:
A)right to contribution.
B)right of exoneration.
C)right of redemption.
D)right of collection.

Question

Quizplus · Accepted Answer

If several people are cosureties,and one of them pays the obligation,he/she has the right to collect the shares from the others.This is called the right to contribution.

George Has Signed a Promissory Note,and Huber,Nick,and Jeffery Are Cosureties