Calvin,a College Student,wants to Purchase an Automobile on Credit from Irontilt

question 33

Multiple Choice

Calvin,a college student,wants to purchase an automobile on credit from Irontilt Motors.He does not have sufficient income or the credit history to justify the extension of credit to him alone.Calvin asks his father to cosign a note to Irontilt Motors,which his father agrees to.What kind of liability does Calvin's father come under?

• A) secondary liability
• B) primary liability
• C) fringe liability
• D) warranty liability

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Definitions:

Federal Government

The national government of a federal country, which holds the authority to govern the entire nation, and its powers are usually outlined in the country's constitution.

Coordinator

An individual responsible for organizing activities and managing the flow of work in a project or event, ensuring that all components come together smoothly.

Overseer

An individual responsible for supervising and directing workers, especially in agricultural settings or on plantations.

United States

A federal republic located primarily in North America, consisting of 50 states, a federal district, five major self-governing territories, and various possessions.