Question: True or false Suppose that Frank cosigned a note that his friend Katherine gave to the credit union to secure a loan. The note was
True or false Suppose that Frank cosigned a note that his friend Katherine gave to the credit union to secure a loan. The note was originally for $ and payable in twelve months with an interest rate of eleven percent per year. The credit union and Katherine later agree that Katherine will have eighteen months to repay the note and that the interest rate will be fourteen percent per year. Unless Frank consents to the change, he is discharged from his responsibility as surety.
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