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 75 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
YES! Correct, THANKS for helping me on my review

yeungji

  • Member
  • Posts: 319
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

Human kidneys will clean about 1 million gallons of blood in an average lifetime.

Did you know?

The types of cancer that alpha interferons are used to treat include hairy cell leukemia, melanoma, follicular non-Hodgkin's lymphoma, and AIDS-related Kaposi's sarcoma.

Did you know?

Sperm cells are so tiny that 400 to 500 million (400,000,000–500,000,000) of them fit onto 1 tsp.

Did you know?

More than 30% of American adults, and about 12% of children utilize health care approaches that were developed outside of conventional medicine.

Did you know?

Thyroid conditions cause a higher risk of fibromyalgia and chronic fatigue syndrome.

The cranium of early African H. erectus KNM-ER 3733 is nearly 1.8 million years old. The cranium of early African H. erectus KNM-ER 3733 is nearly 1.8 million years old.
This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc This girl ran four spinning machines in a cotton mill in Whitnel, North Carolina. Only 4 feet, 3 inc
Older people who experienced stressful events in their younger years may show personal growth and ... Older people who experienced stressful events in their younger years may show personal growth and ...
The West Bank Challenge The West Bank Challenge
Agriculture in 10,000 years ago Agriculture in 10,000 years ago
No payments were made on a $2,598 loan during its three-year term. What was the annually ... No payments were made on a $2,598 loan during its three-year term. What was the annually ...
Video: Junction Types - Tight and Adherens Junctions

For a complete list of videos, visit our video library