Ross and Sally agree to guarantee Tim’s debt. Ross’s maximum liability is $30,000, and Sally’s is $20,000. Tim owes $20,000 and is in default. Ross…

Ross and Sally agree to guarantee Tim’s debt. Ross’s maximum liability is $30,000, and Sally’s is $20,000. Tim owes $20,000 and is in default. Ross….

3. Ross and Sally agree to guarantee Tim’s debt. Ross’s maximum liability is $30,000, and Sally’s is $20,000. Tim owes $20,000 and is in default. Ross pays the creditor the entire amount. In the absence of an agreement to the contrary, Ross can recover from SallyA) 8000B) 25000C) 20000D) 10000E) 0

Ross and Sally agree to guarantee Tim’s debt. Ross’s maximum liability is $30,000, and Sally’s is $20,000. Tim owes $20,000 and is in default. Ross…