Laura Is Considering the Possibility of Becoming a Surety to Carl

question 24

True/False

Laura is considering the possibility of becoming a surety to Carl on a debt by David, but she would like more information on the relationship between Carl and David concerning the transaction.If Laura requests such information from Carl, he must disclose it, because his failure to disclose material facts will constitute fraud.

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Definitions:

Wrongfully Attached

A legal term referring to property or assets that have been improperly seized or subjected to a lien due to incorrect legal judgments or clerical errors.

Actual Damages

Compensation awarded to a plaintiff in a lawsuit for the direct and quantifiable losses suffered, such as medical expenses or lost earnings.

Writ Of Execution

is a court order that authorizes the seizure of assets from a debtor to satisfy a judgment.

Foreclosure Order

A legal directive which authorizes the sale of collateral upon borrowers' failure to pay back a loan.