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Question
Fact Pattern 28-1Beta Software Corporation is a new company that needs to borrow money to meet its payroll. Carl, president and owner of Beta, asks First National Bank to loan Beta the funds.Refer to Fact Pattern 28-1. If First National insists that Carl sign the loan application, making himself personally liable for payment whether or not Beta defaults, Carl will be
a. a guarantor only.
b. a surety only.
c. a guarantor and a surety.
d. none of the above.
Answer
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Fact Pattern 41-1
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Fact Pattern 41-1
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