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

question 19

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,after the loan agreement is signed,Gina agrees to a higher rate of interest without telling Harper,then Harper is

• A)discharged from the agreement.
• B)liable at the higher rate of interest.
• C)liable at the lower rate of interest.
• D)liable for the principal only.

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