Tracy Contracted with Stanley to Pay 2 Installments of $1000

question 84

Multiple Choice

Tracy contracted with Stanley to pay 2 installments of $1000 over a two-month period to buy a new laptop from Stanley.Juan co-signed the note for Tracy.Tracy could not make the second payment on time and Stanley extended the repayment period to three months.Is Juan still responsible as a surety?

• A)Yes because sureties never have to consent to a change in a principal's obligation.
• B)Yes,because the extension of time was for less than one month.
• C)Yes,because if the creditor merely allows the principal more time without the surety's consent,this does not relieve the surety of responsibility.
• D)No,because a change was made to the principal's obligation without the consent of the surety.

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