Recent Posts • Latest Topics • Unanswered Questions

John and Henry go to the bank so that Henry can borrow $50 000.00. The bank will only give Henry the ...

bigcaat

wrote...

Go to Answer

Posts: 640

Rep:

7 years ago

John and Henry go to the bank so that Henry can borrow $50 000.00. The bank will only give Henry the ...

John and Henry go to the bank so that Henry can borrow $50 000.00. The bank will only give Henry the money if John guarantees it, and John agrees in writing to do this. A couple of months later and unknown to John, Henry and the bank agree to material changes to Henry's loan, including increasing the interest rate substantially. If Henry defaults on the loan and the bank decides to sue both Henry and John,
a. John's guarantee and Henry's debt are discharged by the changes made to the loan.
b. John will be held liable on his guarantee, but Henry will not be because of the material changes to the loan.
c. John, as guarantor, will be held liable on his guarantee, and Henry, as principal debtor, will be held liable on the debt.
d. John's guarantee is discharged due to the changes made to the loan, and the bank can only sue Henry on the debt.
e. none of the above

Textbook

The Law and Business Administration in Canada

Edition: 14^th

Authors: Smyth, Soberman, Easson, McGill

Read 117 times

1 Reply

Report

Replies

Answer verified by a subject expert

MiY4Gi

wrote...

Related Topics

bigcaat Author

wrote...

7 years ago

Thanks

shangshang

wrote...

Yesterday

I appreciate what you did here, answered it right Smiling Face with Open Mouth

avance37

wrote...

2 hours ago

Correct

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1231 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

Related Images

1166

637

Your Opinion

Previous poll results: What percentage of nature vs. nurture dictates human intelligence?

Strange Ingredients Lurking in Doritos Chips

The Toxic Skin and Fungi Defense

Courses by Biology Forums

It's sore throat season, why does my mucus have red spots?

Bonobos, Chimpanzees, and the 98% DNA Link

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.