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Don borrows $100,000 from a Bank and grants the bank a security interest on the equipment in his repair shop. Dons father and his uncle
Don borrows $100,000 from a Bank and grants the bank a security interest on the equipment in his repair shop. Dons father and his uncle agree to act as sureties with respect to this obligation. Don defaults on the loan.
a. Can the Bank sue one or more of the sureties on this debt?
b. If in his capacity as surety Dons father is required to pay $100,000 to the Bank, what rights does Don have against the other surety?
c. What rights do the sureties have against Don?
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