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Becky Wants to Buy a Car but Cannot Obtain a Loan

Question 26

True/False

Becky wants to buy a car but cannot obtain a loan from the bank on her own.Lori agrees to be the co-signer on Becky's loan,on the condition that Lori would only be liable for the amount of the loan if Becky actually defaults on the loan.In this situation,Lori would best be described as a guarantor.

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