All of the Following Are True Regarding a Cosigner on an Account

question 43

Multiple Choice

All of the following are true regarding a cosigner on an account, except

• A) the cosigner is responsible for any unpaid balance.
• B) the lender may not seize the assets of the cosigner.
• C) cosigning an account is a big liability and should be taken seriously.
• D) cosigning on a loan can restrict the amount that the cosigner is able to borrow.

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Definitions:

Public Law

Laws governing the relationship between individuals and the government, including constitutional, administrative, and criminal laws.

State Law

The body of law enacted by the legislative branch of a state government and applicable within that state's jurisdiction.

Maliciously Arrested

Being arrested based on wrongful intent without grounds for a legitimate legal arrest.

Civil Claims

are legal disputes between parties seeking financial compensation or specific performance rather than criminal sanctions.