Question: Burger borrowed 10 000 on a three year term from
Burger borrowed $ 10,000 on a three- year term from Valley National Bank. Burger’s uncle signed as guarantor of the loan. At the end of the three years, Burger requested that the bank extend the loan for an additional three years and the bank agreed. Burger’s uncle was never notified of the loan extension. Is Burger’s uncle relieved from liability as guarantor of the loan?
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