A party contracts to guaranty the collection of the debts of another. As a result of the guaranty, the creditor, upon debtor's default, can immediately proceed against the guarantor without further notice. T/F?
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A party contracts to guaranty the collection of the debts of another. As a result of the guaranty, the creditor, upon debtor's default, can immediately proceed against the guarantor without further notice.
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- John goes to a bar. Harry starts to talk to him about a car he has for sale. John tells him he wishes he could buy the car but does not have that much cash. Harry tells John he can make payments over the next year. Harry writes on a napkin John shall pay me $100.00 per month for 12 months starting December 1, 2018. They both sign and date the napkin. Discuss whether this is a negotiable instrument. Defend your position. Ensure you discuss each element of negotiability.A pizza parlor owner uses a vending machine company to service his soft drinks.The owner of the company sells his route to Mr X and delegates all of his contractsincluding the one with the pizza parlor. This enrages the pizza parlor owner, because Mr. X was engaged to the pizza parlor owner's sister and left her standing at the altar. He claims that the obligation is non-delegable because it's "personal". Do you agreeDescribe Express and implied contracts. What does it mean when a contract is called void and voidable?
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