Chapter 16: Creditor-Debtor Relations and Bankruptcy. §1: Laws Assisting Creditors. Liens: Consensual; Statutory; or Judicial. Other Remedies: composition agreements, ABC’s. Suretyship. Liens . Consensual Liens.
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When a 3rd party promises to pay a debt owed by a Debtor who doesn’t pay, either a suretyship or guaranty is created.
Trustee can stand in shoes of debtor and assert any lack of capacity or lack of assent.