Question

Silvia is trying to sign up for electric service, but she has never had any kind of utility services in her name before. Based on this, the electric company has asked her to find someone whose name will also go on the electric service and agrees to take responsibility for payment if she cannot. What term BEST describes this person? A. an insurance policy B. an electric partner C. a cosigner D. a sub-renter

Answer 1

A cosigner is the person who agrees to take responsibility for payment if the original borrower cannot repay the loan. So the correct answer is option C.

Step-by-step explanation:

The term that BEST describes the person who agrees to take responsibility for payment if Silvia cannot is a cosigner. A cosigner is another person or firm who legally pledges to repay some or all of the money on a loan if the original borrower does not. In this case, the electric company is requiring Silvia to find a cosigner as a condition for signing up for electric service.