Edward and His Wife,Mary,go into a Bank

question 23

Multiple Choice

Edward and his wife,Mary,go into a bank.Edward wants to loan $10 000.00 from the bank,but the bank manager wants some kind of security.Because they are in a hurry,Mary says,"Give Edward the money and I will pay Edward's loan." The bank manager looks at her and,being afraid that the bank will not loan Edward the money,Mary says,"Please,if Edward does not pay the loan,I will." The bank manager has Mary sign a document with both of her statements in it.In this situation

• A)Mary is an indemnifier.
• B)Mary has indemnified the loan to the bank.
• C)Mary is a guarantor of Edward.
• D)Mary has guaranteed the loan to the bank.
• E)all of the above

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Definitions:

Leather Boots

Footwear made from the hide of animals, treated for durability and aesthetics, often chosen for protection or style.

Mexico

A country located in the southern portion of North America, known for its rich culture, history, and diverse landscapes.

United States

A country located in North America, consisting of 50 states and a federal district, known for its large economy and diverse population.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision.