Jane Is Interested in Purchasing a Condominium Property from Full

question 58

Multiple Choice

Jane is interested in purchasing a condominium property from Full House Real-Estate Group.She has just recently graduated college,so she does not have a credit record built.Knowing this,she goes to Version Bank with her wealthy cousin Ted,who previously agreed to assist her in buying a house after she finished school.Which statement is 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:

Compound

A substance made up of two or more elements chemically combined in fixed proportions.

Comminuted

Refers to a fracture in which the bone is broken into several pieces.

Open Fracture

A type of bone fracture where the bone breaks through the skin, increasing the risk of infection.

Spiral

A curve that winds around a fixed center point at a continuously increasing or decreasing distance.