Krista Babcock cosigned an automobile loan agreement that enabled her friend, Horne, to obtain a $5,000 loan

Question:

Krista Babcock cosigned an automobile loan agreement that enabled her friend, Horne, to obtain a $5,000 loan to acquire an automobile from a third party. Horne defaulted on the loan after making a number of payments, and Babcock paid $2,000 to the lending institution to pay off the remaining balance on the loan. Babcock then brought suit against Horne to recover the $2,000. Is she entitled to recover the $2,000?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Law for Business

ISBN: 978-1259722325

13th edition

Authors: A. James Barnes, Terry M. Dworkin, Eric L. Richards

Question Posted: