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Jeremy is 9 years old.He is mediocre in terms of his academic and extracurricular performance and suffers from low self-esteem.His parents have been using various strategies to help him increase his self-esteem. Which of the following strategies they have been using is the LEAST likely to be effective?
Debt
An amount of money borrowed by one party from another, under the condition that it is to be paid back at a later date, often with interest.
Principal Debtor
A principal debtor is an individual or entity primarily responsible for fulfilling the obligations of a debt or loan.
Surety
A person, such as a cosigner on a note, who agrees to be primarily responsible for the debt of another.
Guarantor
A person who agrees to satisfy the debt of another (the debtor) only after the principal debtor defaults. A guarantor’s liability is thus secondary.
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