Multiple Choice
Bill and Cody agree to guarantee Dave's debt. Bill's maximum liabil?ity is $60,000, and Cody's is $40,000. Dave owes $40,000 and is in default. Bill pays the creditor the entire amount. In the ab?sence of an agree?ment to the contrary, Bill can recover from Cody
A) $0.
B) $16,000.
C) $20,000.
D) $40,000.
Correct Answer:
Verified
Correct Answer:
Verified
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