If You Cosign a Loan, All of the Following Are

question 103

Multiple Choice

If you cosign a loan, all of the following are true except,

• A)you are being asked to guarantee the debt.
• B)it is your legal responsibility to pay the debt.
• C)you'll have to pay only a portion of the debt if the borrower does not pay.
• D)the creditor must first try to collect from the borrower.
• E)the creditor can garnish your wages.

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Definitions:

Profane

Anything regarded as not sacred or religious; everyday, mundane objects or activities without spiritual significance.

Indigenous Peoples

Indigenous peoples are ethnic groups who are the original inhabitants of a given region, possessing distinct cultures, languages, and traditions, often connected to the land of their ancestors.

Organic Solidarity

The type of social bonds present in modern societies, based on difference, interdependence, and individual rights.

Mechanical Solidarity

The type of social bonds present in premodern, agrarian societies, in which shared traditions and beliefs created a sense of social cohesion.