Question: Question 2 ( Mandatory ) ( 1 point ) Mandy wanted to buy a boat and applied for a loan at the bank. Due to

Question

2 (

Mandatory

) (1

point

)

Mandy wanted to buy a boat and applied for a loan at the bank. Due to her limited credit history, the bank refused to lend to Mandy unless she arranged for a cosignor

.

Her brother agreed to cosign on the loan with her. Which of the following is true?

)

If the loan contract is oral, the bank will not be able to enforce the loan against Mandy's brother.

)

Even if the loan contract is oral, the bank will be able to enforce the loan against Mandy's brother.

Question 2(Mandatory)(1 point) Mandy wanted to buy a boat and applied

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related General Management Questions!

An employee who is married and has three children submits a W-4 form to his employer. He checks the box that says Single and writes zero in the Deductions Claimed box. Is this action ethical,...

1: Dell is negotiating the sale of his dairy farm to Alice. Dell told her it has been operated profitably for the last few years and presented her with appropriate financial records for review....

Jerry owns a farm and is considering selling the farm and several other things to Morgan. Which of the following would not require a writing? A. A sale of the farm for $50,000 B. A lease of the farm...

Mandy wanted to buy a boat and applied for a loan at the bank. Due to her limited credit history, the bank refused to lend to Mandy unless she arranged for someone else to accept liability if she...

1 (0.5 points) Question 1 Saved Honor Code Statement. By selecting \"True\" I am stating that I will receive no assistance from any outside source, including notes, texts or other persons, while...

Question 1 (1 point) Smith, a director of Alfa Industries, discovered a business opportunity mentioned in a foreign magazine that would work well for Alfa in Canada. Rather than bring it up at the...

(Questions from Lecture and Article) - Discussion Board Activity I need to read the following Lecture Note and the ?Wall Street Journal? articles that I uploaded, and writeanswers for theDiscussion...

I need Chapter 2 & 3 finished. Chapter 4 & 5, Chapter 6 & 7, & Chapter 8. Some of this is completed, but it isn't 100% finished. Let me know if you can get to it. Personal Finance, Fifth Edition by...

Hi. I need Chapter 11 part 1-4 Let me know. Thanks! (it wont letme add more than $8, but I will give $12+ tip) Personal Finance, Fifth Edition by Jeff Madura BUILDING YOUR OWN FINANCIAL PLAN WORKBOOK...

ASSESSMENT TASKS - ASSIGNMENT 1 Page 2 ASSIGNMENT 1 Task Using the information contained in the Scenario below, please complete the following 6 tasks. You must complete each task for your submission...

Tax Return #3Schedule A John and Susie Ryan are married and file a joint return. John's social security number is 412-34-5670 and his date of birth is May 12, 1976. Susie's social security number is...

Should an economically integrated region be considered as one market area? Explain your answer. Would your answer vary for the European Union in contrast to, say ASEAN?

Barnum Distributors wants a projection of cash receipts and cash payments for the month of November. On November 28, a note will be payable in the amount of $98,500, including interest. The cash...

A company is most likely to outsource training when a company has sufficient time to develop internal training materials be there as a preference for new ideas and thinking see the company emphasizes...

Inventory records for Herb's Chemicals revealed the following: March 1, 2021, inventory: 1,950 gallons @ $9.10 per gallon = $17,745 Purchases: Sales: Mar. 10 790 gals @ $ 9.15 Mar. 5 590 gals Mar. 16...