Multiple Choice
Chris wanted to get a loan from the bank but he has bad credit.In order to get the money he convinced Eric to cosign as 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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