Multiple Choice
Igor signed a note to Gogh Bank, and his friend Sergei also signed the note as an accommodation maker. If Igor defaults on the note when it is due, what are Sergei's rights and obligations?
A) Sergei has the right to recover his payment from the bank.
B) Sergei has the same contractual liability as Igor and must pay the bank.
C) Sergei cannot recover his money from Igor or the bank since he has primary liability.
D) Sergei has secondary liability.
Correct Answer:

Verified
Correct Answer:
Verified
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