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

question 8

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 Harper signs the application only after lan?guage is included that requires Dollar Value to exhaust its legal remedies against Gina before looking to her,then Harper is

• A)a surety.
• B)a lienor.
• C)a guarantor.
• D)a creditor.

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Definitions:

Scope

Refers to the extent of the area or subject matter that something deals with or to which it is relevant.

Atomic Singular Statement

A precise declaration about a single entity or event that is not further divisible within the scope of its context.

Quantifier

A linguistic element used in logic to express the frequency, quantity, or scope of a subject within the structure of a logical or mathematical proposition.

Truth-Functional Compound

A truth-functional compound is a complex proposition formed by connecting simpler propositions with logical connectives, where the truth value is determined by the truth values of its components.