Question: Samuel, soon after graduating from high school, applied for a loan to start a lawnowowing business. He had no personal credit history and he had

Samuel, soon after graduating from high school, applied for a loan to start a lawnowowing business. He had no personal credit history and he had no collateral. The bank required another person to be primarily liable on the loan. He convinced his friend Emile to cosign the loan. Emile is which of the following?
Multiple Choice
Credtor
Surety
Repsyment principol
Samuel, soon after graduating from high school,

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 Finance Questions!

Q:

P20-34. Allocating Service Department Costs: Direct and Step Methods; Department and Plantwide Overhead Rates Assume that Brown Jordan, a manufacturer of fine casual outdoor furniture, allocates...

Q:

Eugene D. Fanning Center for Business Communication 0215 (A) Mendoza College of Business University of Notre Dame Martha Stewart Living Omnimedia, Inc. (A) An Accusation of Insider Trading The sun...

Q:

Alberto Perlman walked out of the old warehouse that served as the offices of Zumba Fitness and into the hot Miami sun. He had just finished meeting with his two partners, and the company that they...

Q:

Journal of Business Case Studies First Quarter 2016 Volume 12, Number 1 Copper King Mining Company: A Case Study In Using Loans And Equity To Finance A Start-Up Richard Parsons, Ph.D., Texas A&M...

Q:

Copper King Mining Company: A Case Study In Using Loans And Equity To Finance A Start-Up Richard Parsons, Ph.D., Texas A&M University - Texarkana, USA ABSTRACT The proposed Copper King mine in south...

Q:

Need Help Fast with this Paper!! Can you also include the references of where the material came from.. Thank You.. Bernie wanted to be rich; he dedicated his life to it. John Maccabee, longtime...

Q:

Need Help Fast with this Paper!! Can you also include the references of where the material came from.. Thank You.. Bernie wanted to be rich; he dedicated his life to it. John Maccabee, longtime...

Q:

Need Help Fast with this Paper!! Can you also include the references of where the material came from.. Thank You.. Bernie wanted to be rich; he dedicated his life to it. John Maccabee, longtime...

Q:

Need Help Fast with this Paper!! Can you also include the references of where the material came from.. Thank You.. Bernie wanted to be rich; he dedicated his life to it. John Maccabee, longtime...

Q:

The Collapse of Barings Bank Nikkei Stock Average Futures Trading on SIMEX At lunchtime on Friday, February 24, Nick Leeson faxed his resignation to his immediate supervisors James Bax and Simon...

Q:

Hey, can anyone help me look at the case of NWC, and answer Question#3 in the instructions file. Thank you! Instructions on Case Study 1 North West Company (NWC) Reading Tips: Read the NWC case...

Q:

Treatment of D-glucose with aqueous NaOH results in a mixture of monosaccharides, which are (A) CHO CHO CHO () (C) (D) HO - - HO - H H- - H - - - - - - CH2OH CH2OH - - - CHOH CHO - - - -OH CHOH...

Q:

A corporate bond has a $1000 face value, 3 years to maturity, and a 6% annual coupon. This bond is retractable (puttable) only at two times: at the end of year 1 for $975, and at the end of year 2...

Q:

1 . Although partnerships are not taxpaying entities, they are required to file information returns annually. a . True b . False

Q:

Can you elucidate the role of molecular chaperones and protein quality control systems in maintaining the integrity and homeostasis of the cytoplasm, particularly under conditions of cellular stress...