Jane Is Interested in Purchasing a Condominium Property from Full

question 70

Multiple Choice

Jane is interested in purchasing a condominium property from Full House Real-Estate Group.She recently graduated college, so she does not have much of a credit record.Knowing this, she goes to Version Bank with her wealthy cousin, Ted, who previously agreed to assist her in buying a house.Which statement is most likely to be TRUE?

• A)Ted can indemnify the bank loan as an unconditional promise to pay only when Jane defaults on her payments.
• B)Ted can guarantee the bank loan as an unconditional promise to pay only when Jane defaults on her payments.
• C)Ted can guarantee the bank loan as a conditional promise to pay only when Jane defaults on her payments.
• D)Ted can indemnify the bank loan as a conditional promise to pay only when Jane's obligations become due.
• E)Ted can indemnify the bank loan, but the indemnification is only enforceable if the indemnity is signed under a notary public seal according to the Indemnification Acknowledgments Act.

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Definitions:

Probability

Is a measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Certainty

A state of being sure or confident about something without any doubt.

Uncertainty

The state of being unsure or not having all the information, which makes outcomes unpredictable.

Specific Result

A distinct outcome or effect that is the aim of an action or plan.