This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Elizabeth gave a guarantee to the bank in support of a loan to Tomasz. Over the next few years, the ... (Read 92 times)

P68T

  • Hero Member
  • *****
  • Posts: 509
on: Aug 7, 2021
Elizabeth gave a guarantee to the bank in support of a loan to Tomasz. Over the next few years, the bank and Tomasz made a number of alterations to the loan agreement. The effect of these changes was to significantly increase the amount owing to the bank. Elizabeth had no notice or knowledge of these changes, nor did she consent to any such changes. What is the likely result?
◦ A guarantee is executed under seal, therefore it will be presumed valid regardless of defect.
◦ Elizabeth will not be bound by the new terms and will also be released from the original obligations.
◦ Elizabeth is bound by the changes to the loan, because guarantees are, by their nature, continuing.
◦ Guarantees are a mere formality; only Tomasz has obligations to the bank.
◦ The failure to notify Elizabeth would release both Elizabeth and Tomasz from their obligations.
Legal Fundamentals for Canadian Business ¦ Yates ¦ 4th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by P68T on Aug 7, 2021

enass

  • Sr. Member
  • ****
  • Posts: 380
Reply #1 on: Aug 7, 2021
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 42% of students answer this correctly


P68T

  • Member
  • Posts: 509
Reply 2 on: Aug 7, 2021
Thanks for the timely response, appreciate it

brbarasa

  • Member
  • Posts: 308
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

Asthma cases in Americans are about 75% higher today than they were in 1980.

Did you know?

As of mid-2016, 18.2 million people were receiving advanced retroviral therapy (ART) worldwide. This represents between 43–50% of the 34–39.8 million people living with HIV.

Distribution of glaciers in North America (a) in the late twentieth century, and (b) 18,000 years ag Distribution of glaciers in North America (a) in the late twentieth century, and (b) 18,000 years ag
Uranus revolves around the Sun once every 84 Earth years. Its average distance from the Sun is rough Uranus revolves around the Sun once every 84 Earth years. Its average distance from the Sun is rough
(a) The site of Zhoukoudian outside of Beijing, China, spans several hundred thousand years and (b) (a) The site of Zhoukoudian outside of Beijing, China, spans several hundred thousand years and (b)
On March 25, 1911, as scores of young factory girls leaped to their deaths from the eighth, ninth, a On March 25, 1911, as scores of young factory girls leaped to their deaths from the eighth, ninth, a
Nader makes semi-annual payments of $3000 to pay off his loan. Because of unemployment, he ... Nader makes semi-annual payments of $3000 to pay off his loan. Because of unemployment, he ...
Tracing numbers and alphabets by nat 3 years old Tracing numbers and alphabets by nat 3 years old
Video: Helper T cell receptors, activation, proliferation, differentiation & action

For a complete list of videos, visit our video library