Fact Pattern 28-1A (Questions A12-A15 Apply)

question 12

Multiple Choice

Fact Pattern 28-1A (Questions A12-A15 apply)
Dollar Value Motors asks Estimable Bank for a loan to increase its vehicle inventory.Estimable requires Flair,Dollar Value's president,sign a personal guaranty to pay the debt if Dollar Value defaults.Meanwhile,to buy a pick-up truck from Dollar Value,Gina asks Harper to co-sign a credit application.
-Refer to Fact Pattern 28-1A.If Flair is a guarantor,then the guaranty is re?quired to be in writing because of

• A)the debtor's right of redemption.
• B)the co-signer's right of contribution.
• C)the creditor's transfer of possession.
• D)the Statute of Frauds.

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Definitions:

Convergent Boundary

A tectonic boundary where two or more tectonic plates move towards each other, often resulting in mountain building, earthquakes, and volcanic activity.

Oceanic Plate

A type of tectonic plate that consists mainly of basaltic crust and is denser than continental plates, often subducted under a continental plate at convergent boundaries.

Subducts

Occurs when one tectonic plate moves under another and sinks into the Earth's mantle due to plate tectonic processes.

Subduction Zone

A region at convergent plate boundaries where one tectonic plate moves under another into the mantle, often causing earthquakes and volcanic activity.