Question
6. Will agreed to act as surety on a loan given by Geri Finance Company to Ernest. When Ernest could not repay the loan, Geri
6. Will agreed to act as surety on a loan given by Geri Finance Company to Ernest. When Ernest could not repay the loan, Geri Finance came directly to Will for payment without attempting to get the money from Ernest. Will refused to pay, claiming that Geri Finance should first try and collect from Ernest. Is Will correct? Why or why not?
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Financial Accounting Tools for Business Decision Making
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
5th Edition
9781118560952, 1118560957, 978-0470239803
