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John and Henry Go to the Bank So That Henry

question 67

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John and Henry go to the bank so that Henry can borrow $50 000.00.The bank will only give Henry the money if John guarantees it,and John agrees in writing to do this.A couple of months later and unknown to John,Henry and the bank agree to material changes to Henry's loan,including increasing the interest rate substantially.If Henry defaults on the loan and the bank decides to sue both Henry and John


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