Fact Pattern 28-1A (Questions A12-A15 apply)
Dollar Value Motors asks Estimable Bank for a loan to increase its vehicle inventory.Estimable requires Flair,Dollar Value's president,sign a personal guaranty to pay the debt if Dollar Value defaults.Meanwhile,to buy a pick-up truck from Dollar Value,Gina asks Harper to co-sign a credit application.
-Refer to Fact Pattern 28-1A.If Harper signs the application but fails to con?di?tion her signature on Dollar Value's agreement to pursue its legal remedies against Gina before looking to her,then Harper is
A)a surety.
B)a lienor.
C)a guarantor.
D)a creditor.

Question

Quizplus · Accepted Answer

Harper is a surety because she is agreeing to be responsible for Gina's debt without requiring Dollar Value to first attempt to collect from Gina.

Fact Pattern 28-1A (Questions A12-A15 Apply)