Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Bryan Industries entered into a contract with Hondo Designs, where Bryan would deliver 100 computers on credit to Hondo. Larry agreed to guarantee the payments

Bryan Industries entered into a contract with Hondo Designs, where Bryan would deliver 100 computers on credit to Hondo. Larry agreed to guarantee the payments that Hondo owed to Bryan. If Bryan breached the contract, which of the following is correct?

a. Larry would have a defense to payment of breach of contract only if he was a surety

b. Larry would have a defense to payment of breach of contract

c. Larry would have a defense to payment of breach of contract only if he was a guarantor

d. Larry would be obligated to pay whether he was a surety or a guarator e. Larry would be obligated to pay only if the transactions was a consensual lien.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Regulation Of The London Stock Exchange Share Trading, Fraud And Reform 1914-1945

Authors: Chris Swinson

1st Edition

0367887568, 9780367887568

More Books

Students also viewed these Accounting questions