Ask Question
3 June, 02:49

Dirk is the maker of a note, on which Erv is secondarily liable. Friendly Credit Company is the current holder of the note. Erv will be obligated to pay the note if

+3
Answers (1)
  1. 3 June, 05:58
    0
    Erv will be obligated to pay the note if Dirk defaults on the note.

    Explanation:

    Erv is the guarantor of Dirk's note. If for any reason Dirk cannot pay the note, then Erv will be responsible for paying the note. Under normal circumstances, Dirk should be responsible for paying the note, but if he just doesn't wish to pay it anymore, Erv will have to pay it, but he will also be able to demand for repayment from Dirk.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Dirk is the maker of a note, on which Erv is secondarily liable. Friendly Credit Company is the current holder of the note. Erv will be ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers