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Sue is starting a new business as a sole proprietor. She needs a loan and approaches the bank to lend her money. The only assets
Sue is starting a new business as a sole proprietor. She needs a loan and approaches the bank to lend her money. The only assets that she has at the moment are the land and building where she carries on her business. If the bank wants to secure the loan to sue, the loan would best take the form of what? A mortgage A personal guarantee from Sue A personal guarantee from someone other than Sue A general security agreement
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