Question: Fact Pattern 1 9 - 1 Petro Oil Refinery asks Quality Bank for a loan to increase its oil inventory. Quality requires Robin, Petro's president,

Fact Pattern

19 - 1

Petro Oil Refinery asks Quality Bank for a loan to increase its oil inventory. Quality requires Robin, Petro's president, sign a personal guaranty to pay the debt if Petro defaults.

Refer to Fact Pattern

19 - 1 .

If Robin is a guarantor, then the guaranty is required to be in writing because of

the co

-

signer's right of contribution.

the creditor's transfer of possession.

the Statute of Frauds.

the debtor's right of redemption.

Fact Pattern 1 9 - 1 Petro Oil Refinery asks

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