Multiple Choice
A clothing store has opened a credit account in which Judy, a college student, gets Alice, her older sister, to agree to pay the amount owed on the account if Judy fails to do so. Which of the following statements is true of this scenario?
A) Judy is the obligor, and she is secondarily liable to the clothing store.
B) Alice is the guarantor, and she is primarily liable to make the payments.
C) Judy is the obligor, and she is contractually liable to the guarantor.
D) Alice is the guarantor, and Alice's contract must be in writing to be enforceable.
Correct Answer:

Verified
Correct Answer:
Verified
Q37: On March 10, Martin entered into an
Q38: The Uniform Commercial Code (UCC) states that
Q39: Explain what a collateral (guaranty) contract is.
Q40: If the parties used a form contract,
Q41: The U.N. Convention on the International Sale
Q43: A publisher makes an oral deal with
Q44: If two parties used a form contract,
Q45: The parol evidence rule refers to the:<br>A)
Q46: In most states, the statute of frauds
Q47: In an insurance contract, if one of