Question
5. Sklar borrowed $360,000 from Rich Bank. At Rich's request, Sklar entered into an agreement with Aker, Burke, and Cey to act as cosureties on
5. Sklar borrowed $360,000 from Rich Bank. At Rich's request, Sklar entered into an agreement with Aker, Burke, and Cey to act as cosureties on the loan. The agreement between Sklar and the cosureties provided that the maximum liability of each cosurety was: Aker $72,000, Burke $108,000, and Cey $180,000. After making several payments, Sklar defaulted on the loan. The balance was $240,000. If Cey pays $180,000 and Sklar subsequently pays $60,000, what amounts may Cey recover from Aker and Burke?
Select one:
a. $0 from Aker and $0 from Burke.
b. $60,000 from Aker and $60,000 from Burke.
c. $48,000 from Aker and $72,000 from Burke.
d. $36,000 from Aker and $54,000 from Burke.
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