Dent Corporation received a loan from Jardine Finance Company. As part of the signed written agreement, Jardine required that one of the members of the board of directors of Dent Corporation act as a surety for the entire loan. The loan agreement also called for some of Dent's real estate to be used as collateral for 50% of the loan. Which of the following is correct?
A. When the loan is due, Jardine must first seek collection of the loan from Dent before resorting to the surety or the collateral.
B. Jardine may choose to proceed against the surety for the entire loan when the loan is due.
C. When the loan is due, Jardine needs to exhaust the collateral before resorting to the surety or the debtor.
D. Jardine may only resort to the collateral if neither the surety nor the debtor can repay the loan in full.
B. Jardine may choose to proceed against the surety for the entire loan when the loan is due.
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What is a difference between an international firm and a multinational firm?
A) Multinational firms design, produce, and market products in many nations, whereas international firms are based primarily in one nation. B) International firms design, produce, and market products in many nations, whereas multinational firms are based primarily in one nation. C) International and multinational firms are the same thing. D) Multinational firms are concerned primarily with foreign markets, whereas international firms are concerned primarily with the domestic market. E) International firms are concerned primarily with foreign markets, whereas multinational firms are concerned primarily with the domestic market.