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:

Charleston

A historic city in South Carolina, known for its well-preserved architecture, rich history, and as a major site during the Civil War.

Secure British Base

A fortified location established by Britain for military, strategic, or trading advantage, often in colonial or contested territories.

Patriot Forces

Military units fighting for independence or a cause, often used in the context of the American Revolutionary War.

Iroquois Bands

Subdivisions or groups within the Iroquois Confederacy, a historically powerful and influential alliance of indigenous tribes in North America.