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Bill and Cody agree to guarantee Daves debt. Bills maximum liability is $60,000, and Codys is $40,000. Dave owes $40,000 and is in default. Bill

Bill and Cody agree to guarantee Daves debt. Bills maximum liability is $60,000, and Codys is $40,000. Dave owes $40,000 and is in default. Bill pays the creditor the entire amount. In the absence of an agreement to the contrary, Bill can recover from Cody

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