Debtor - Duy L Ton-That BUL 5332 Debtor/Creditor 1 A Wrong Not necessary B Wrong Like A C Correct A co-surety exists when two or more persons have

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Duy L. Ton-That BUL 5332 Debtor/Creditor. 1. A. Wrong. Not necessary. B. Wrong. Like A. C. Correct. A co-surety exists when two or more persons have guaranteed the same debt. D. Wrong. BS 2. A. Wrong. BS B. Wrong. BS C. Wrong. BS D. Correct. 3. A. Wrong. BS B. Wrong. A surety’s promise must be in writing in order to be enforceable. C. Correct. D. Wrong. A surety has primary liability. 4. A. Wrong. A guarantor has second liability. B. Wrong. BS. C. Wrong. A guarantor’s promise must be in writing. D. Correct. A creditor must attempt to collect first form the debtor before collecting from a guarantor. 5. A. Wrong. Frank only has the right to the property after satisfying the obligation. B. Correct. Frank has primary liability. C. Wrong. BS. D. Wrong. Jones has perfected his right in the collateral by taking possession of them. 6. A. Correct since Safety has the subrogation right. B. Wrong. BS C. Wrong. BS D. Wrong. BS 7. A. Wrong. BS. B. Wrong. BS
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This note was uploaded on 11/10/2010 for the course BUL 3130 taught by Professor Tessitore during the Spring '08 term at University of Central Florida.

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Debtor - Duy L Ton-That BUL 5332 Debtor/Creditor 1 A Wrong Not necessary B Wrong Like A C Correct A co-surety exists when two or more persons have

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