The Obligation of a Cosigner Is Discharged By

question 43

Multiple Choice

The obligation of a cosigner is discharged by:

• A) the minority status of one of the parties.
• B) the majority status of one of the parties.
• C) the court's declaration of the contract's provision of necessaries.
• D) the payment of the debt.

---

Definitions:

Vicarious Liability

The legal responsibility of an entity for the actions of another person, typically in employer-employee relationships.

Strict Liability

A legal doctrine where a party is responsible for damages or loss, not based on fault or negligence, but because they are inherently responsible for a specific outcome.

Defamation

A derogatory, false statement published to a person’s detriment.

Trespass

Unlawful entry onto land or property without the owner's permission.