Business, 06.04.2021 01:00 zairaefh3200
When approached by Bob Lanier regarding a $2,000 loan, Dina Dustin demanded a surety and collateral equal to 50% of the loan. Lanier obtained King Surety Company as his surety and pledged rare coins worth $1,000 with Dustin. Dustin was assured by Lanier one week before the due date of the loan that he would have no difficulty in making payment. He persuaded Dustin to return the coins because they had increased in value and he had a prospective buyer. What is the legal effect of the release of the collateral upon King Surety
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When approached by Bob Lanier regarding a $2,000 loan, Dina Dustin demanded a surety and collateral...
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