Sagan is borrowing money from Big Bank.His friend Leda,who works for Graille Systems,signs the loan agreement promising to pay the debt if Sagan does not.In this scenario, is the obligee,and obligor.

A) Sagan,Big Bank
B) Leda,Big Bank
C) Graille Systems,Sagan
D) Big Bank,Sagan

Question

Sagan is borrowing money from Big Bank.His friend Leda,who works for Graille Systems,signs the loan agreement promising to pay the debt if Sagan does not.In this scenario,________ is the obligee,and ________ obligor.

A) Sagan,Big Bank
B) Leda,Big Bank
C) Graille Systems,Sagan
D) Big Bank,Sagan

Caroline Grundy · Accepted Answer

Final Answer : D, Explanation :  Big Bank is the obligee because it is the entity to which the debt is owed. Sagan is the primary obligor because he is the original party obligated to repay the borrowed money.

Sagan is borrowing money from Big Bank.His friend Leda,who works for Graille Systems,signs the loan agreement promising to pay the debt if Sagan does not.In this scenario, is the obligee,and obligor.

A) Sagan,Big Bank
B) Leda,Big Bank
C) Graille Systems,Sagan
D) Big Bank,Sagan

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Learning Objectives

Related questions

Sagan is borrowing money from Big Bank.His friend Leda,who works for Graille Systems,signs the loan agreement promising to pay the debt if Sagan does not.In this scenario,________ is the obligee,and ________ obligor.A) Sagan,Big BankB) Leda,Big BankC) Graille Systems,SaganD) Big Bank,Sagan

Definitions

Learning Objectives

Learning Objectives

Related questions

Sagan is borrowing money from Big Bank.His friend Leda,who works for Graille Systems,signs the loan agreement promising to pay the debt if Sagan does not.In this scenario, is the obligee,and obligor.

A) Sagan,Big Bank
B) Leda,Big Bank
C) Graille Systems,Sagan
D) Big Bank,Sagan