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.

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Definitions:

Documents

Written, drawn, presented, or memorialized representations of thoughts.

Case-or-Controversy Requirement

A constitutional principle that federal courts can only hear actual, ongoing cases or controversies, ensuring that courts do not overstep their boundaries into the realm of advisory opinions.

Advisory Opinions

Non-binding judgments given by courts or legal authorities on questions of law or policy, often requested before formal legal action is commenced.

Courts

Governmental institutions authorized to hear and decide on legal disputes and administer justice in legal cases.