Allen, Barker, and Cooper are cosureties on a $750,000 loan by Durham National Bank to Kingston Manufacturing

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Allen, Barker, and Cooper are cosureties on a $750,000 loan by Durham National Bank to Kingston Manufacturing Co., Inc.

The maximum liability of the sureties is as follows: Allen—

$750,000, Barker—$300,000, and Cooper—$150,000. If Kingston defaults on the entire $750,000 loan, what are the liabilities of Allen, Barker, and Cooper? Explain.

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Essentials Of Business Law And The Legal Environment

ISBN: 9781337555180

13th Edition

Authors: Richard A Mann, Barry S Roberts

Question Posted: Jul 08, 2024 02:04 AM

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Allen, Barker, and Cooper are cosureties on a $750,000 loan by Durham National Bank to Kingston Manufacturing

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Essentials Of Business Law And The Legal Environment

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