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can you please help me with questions 1 and 2. Thank you Bb Take Test: Chapter 31 Test - BU: x + .edu/webapps/assessment/take/launch.jsp?course_assessment_id=_68338_1&course_id=_15932_1&new_attempt=1&content_id=_1538780_1&step= Remaining Time:

can you please help me with questions 1 and 2. Thank you

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Bb Take Test: Chapter 31 Test - BU: x + .edu/webapps/assessment/take/launch.jsp?course_assessment_id=_68338_1&course_id=_15932_1&new_attempt=1&content_id=_1538780_1&step= Remaining Time: 2 hours, 23 minutes, 15 seconds. Question Completion Status: QUESTION 1 Elizabeth wanted to purchase a laptop from Apple, but wanted to purchase it on credit. Apple agreed to sell the laptop to Elizabeth because Dina agreed in writing to guarantee Elizabetha s payment responsibility for the purchase price. As a result: The parties created a suretyship contract. The parties created an indemnity contract. Dinaa s agreement to guarantee Elizabetha s payment responsibility is unenforceable because Apple did not give any consideration to Dina. Dinaa s agreement to guarantee Elizabetha s payment responsibility is enforceable. QUESTION 2 If a principal debtor defaulted on a loan and his friend acted a surety on the loan, which defense can the surety raise to limit himself to liability from creditor? Principal debtor claims bankruptcy and the court discharges all his debts. Surety raises a personal defense against creditor. The surety is mentally incapacitated. Principal debtor is mentally incapacitated. QUESTION 3 Bailment given as security for the payment of a debt is a(n):_ pledge contribution. guaranty. subrogration. QUESTION 4 China Outlet made contract to purchase $1 million of china from Seller on credit. ABC Savings and Loan issued a letter of credit agreeing to pay $250,000 upon receipt of documents showing that the china was in fact delivered to China Outlet. China Outlet failed to pay for the china and Seller demanded the $1 million from ABC Savings and Loan. As a result: ARC Savings and Loan must nav $1 million to Seller

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