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Author Question: A lien creditor who has perfected his interest always takes priority over a secured party. Indicate ... (Read 66 times)

tfester

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on: Jun 24, 2018
A lien creditor who has perfected his interest always takes priority over a secured party.
  Indicate whether the statement is true or false

Question 2

Which of the following is correct concerning suretyship and guaranty?
 A) A surety is always liable from the moment the principal is in default.
 B) A guarantor is always liable from the moment the principal is in default.
 C) Both are undertakings by one person, for a consideration, to pay another person a sum of money in the event that the other person sustains a specified loss.
 D) Neither can be exonerated from liability.


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leannegxo

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Reply #1 on: Jun 24, 2018
Answer to Question 1

FALSE

Answer to Question 2

A


tfester

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

Sarahjh

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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