Question
Helen was loaned $10,000 by Victoria on June 1, 2020 and they agreed on June 1, 2020 that the debt would be paid with interest
Helen was loaned $10,000 by Victoria on June 1, 2020 and they agreed on June 1, 2020 that the debt would be paid with interest in 10 monthly payments starting on July 1, 2020 and ending on May 1, 2021.Helen then did not pay anything for the months of July, August and September, 2020 and Victoria, concerned about Helen's ability to pay, indicated to her that she would require Helen to obtain a surety for the debt.Helen turned to her friend, John, and asked him if he would act as a surety.John agreed and on September 15, 2020, he signed a written agreement to be a surety for Helen's debt but Helen did not give him anything in return for this agreement.On January 1, 2021, after Helen's failure to pay anything on the debt, Victoria went to John and demanded payment since he was the surety.John refused to pay and Victoria sued him for his failure to pay as a surety.Will Victoria win or lose?
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