Multiple Choice
Chris wanted to get a loan from the bank,but he had bad credit.In order to get the money,he convinced Eric to cosign as a surety.Now Chris has stopped making the payments.When is Eric liable for repayment of the loan?
A) At any point.
B) When Chris stopped making payments.
C) Only after the bank attempts to recover the full amount from Chris.
D) Never, because Eric was not the one actually using the money.
Correct Answer:
Verified
Correct Answer:
Verified
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