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Question
Larry signed a note to the Bank, and his friend Moe also signed the note as an accommodation maker. If Larry defaults on the note when it is due, what are Moe's rights and obligations?
A. Moe has the right to recover his payment from the bank.
B. Moe has the same contractual liability as Larry and must pay the bank.
C. Moe cannot recover his money from Larry or the bank since he has primary liability.
D. Moe has secondary liability.
Answer
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Related questions
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