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Which of the following would be considered a personal contingent liability for a guarantor of a...

Which of the following would be considered a personal contingent liability for a guarantor of a business loan? A) The individual has subordinated debt to the business. B) The individual has guaranteed another loan to an unrelated business. C) The individual is considering borrowing to purchase real estate. D) The individual is engaged to be married.

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Answer is B pertains to Personal Contingent liablity

Contingent Liability is different from Direct Liability in the sense Contingent Liablities have Guarantees involved in them

jeff jeffy answered 2 years ago
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