Kyle Peterson, owner of Butcher & Baker, Inc. (B&B), guaranteed B&Bs debt to Gregory Bank & Trust. B&B defaulted. Gregory Bank & Trust did not make any traditional attempt to collect the debt from B&B. However, through a state court, the bank sought payment of the full amount owing of the debt plus interest from Peterson. Peterson argued that the bank could not enforce his guaranty while other funds were available to satisfy B&Bs debt. For example, the debt might be paid out of the proceeds of a sale of corporate assets. Will the bank succeed in its effort to collect from Peterson? Why or why not?