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Elmer agreed to act as the conditional guarantor of collection on a debt of $50,000 that Fred owed to Gloria.Fred paid Elmer a premium to serve as surety.If Fred defaults on the debt,what are Gloria's rights against Elmer?
Management Powers
The authority vested in the directors, officers, or managers of an organization to make decisions and conduct the operations of the business.
Uniform Limited Partnership Act
A set of laws adopted by some states that govern the formation, operation, and dissolution of limited partnerships.
Admission Condition
Requirements that must be met or agreed upon before an individual can be accepted or admitted into a program, organization, or agreement.
Partner's Consent
The agreement or approval given by a partner in a business partnership, allowing certain actions or decisions to be made.
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