Question
Which of the following is true of a note payable to Jane that is dated January 1, 2021, due on July 1, 2021 and signed
"Which of the following is true of a note payable to Jane that is dated January 1, 2021, due on July 1, 2021 and signed by Tom, Rick and Harry as co-makers? "
| "Tom, Rick and Harry are jointly and severally liable on the note." | ||
| "Jane can sue any of the Tom, Rick and Harry group individually" | ||
| Any one of the Note Makers that is required to pay more than his share has a right of contribution from the other Makers. | ||
| All of the above |
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
