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Dirk is the maker of a note, on which Erv is secondarily liable. Friendly Credit Company is the current holder of the note. Erv will be obligated to pay the note if
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Dirk is the maker of a note, on which Erv is secondarily liable. Friendly Credit Company is the current holder of the note. Erv will be obligated to pay the note if

User Jgubman
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Answer:

Erv will be obligated to pay the note if Dirk defaults on the note.

Step-by-step explanation:

Erv is the guarantor of Dirk's note. If for any reason Dirk cannot pay the note, then Erv will be responsible for paying the note. Under normal circumstances, Dirk should be responsible for paying the note, but if he just doesn't wish to pay it anymore, Erv will have to pay it, but he will also be able to demand for repayment from Dirk.

User Oleksii Nezhyborets
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