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maxonik [38]
3 years ago
12

Ivor borrowed $420,000 from Lear Bank. At Lear's request, Ivor entered into an agreement with Ash, Kane, and Queen for them to a

ct as co-sureties on the loan. The agreement between Ivor and the co-sureties provided that the maximum liability of each co-surety was: Ash, $84,000; Kane, $126,000; and Queen, $210,000. After making several payments, Ivor defaulted on the loan. The balance was $280,000. If Queen pays $210,000 and Ivor subsequently pays $70,000, what amounts may Queen recover from Ash and Kane?
Business
1 answer:
I am Lyosha [343]3 years ago
6 0

Answer:

what amounts may Queen recover from Ash and Kane?

Ash   56000

Kane 84000

Explanation:

Ivor Borrowed 420000  

 

Ash 84000 20,00%

Kane  126000 30,00%

Queen 210000 50,00%

420000  

 

Ash 56000 40,00%

Kane 84000 60,00%

Queen 210000  

Ivor 70000  

280000  

140000  

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