Thomas borrowed $100,000 from First Bank, which asked that he both put up collateral and provide a surety. Consequently, Thomas provided the bank with a security interest in his antique car collection and asked Victor to act as a surety. Victor agreed
to do so and signed a surety agreement with the bank. Thomas made several payments on the loan and then asked First Bank for permission to sell three of his cars. First Bank agreed, but it never notified Victor of the sale of the collateral. Thomas then defaults on the loan. First Bank now wants Victor to pay the remainder of the loan. Must Victor pay? Explain.
Thomas, who is the principal debtor, and First Bank, which is the creditor, had entered into a binding modification of their agreement. Their failure to notify Victor of this modification discharges Victor as surety to the extent of the value of the three cars that were sold. This doctrine is an equitable doctrine that is designed to protect the surety's right of subrogation.
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A(n) ______________________________ file is one that is reviewed on a current and regular basis for the purpose of taking action to clear the items from that file
Fill in the blank(s) with correct word
Other things constant, the larger the federal deficit,:?
A. ?the lower the level of expenses of a country. B. ?the higher the level of income of a country. C. ?the lower the level of tax rates. D. ?the lower the level of inflation rate. E. ?the higher the level of interest rates.
Beckenworth had cost of goods sold of $9,421 million, ending inventory of $2,089 million, and average inventory of $1,965 million. Its days' sales in inventory equals: (Use 365 days a year.)
A. 76.1 days. B. 0.21. C. 4.51. D. 80.9 days. E. 4.79.
In ____ the project, the project manager implements a project management information system designed to track actual progress and compare it with planned progress
a. planning b. scheduling c. organizing d. controlling