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Which of the following is a disadvantage of guarantees as security? Bank is normally able to take legal action against a guarantor as soon as

Which of the following is a disadvantage of guarantees as security?

Bank is normally able to take legal action against a guarantor as soon as demand has been made on him and he has failed to pay

Guarantees are the easiest security to complete

Its an acceptable item of security only for small loans such as student loans

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