1 A A Aa A ELEGAL ** A D A E E. B cDe AaBbc 1 No Spac... Heading 1 Heading 2 Font Paragraph Styles Question: 29 4 Guaranty. Timothy Martinez, owner of Koeing & Vits Inc. (K&v), guaranteed K&V's debt to community Bank & Trust. The guaranty stated that the bank was not required to seek payment of the debt from any other source before enforcing the guaranty. K&V defaulted. Through a Wisconsin state court, the bank sought payment of$536,739.40, plus interest at the contract rate of 7.5% from Martinez. Martinez argued that the bank could not enforce his guaranty while other funds were available to satisfy K&V's debt. For example, the debt might be paid out of the proceeds of a sale of corporate assets. Is this 'an effective defense to a guaranty? Why or why not