Friendly agreed to act as surety on a loan given by ace, Management Theories

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Friendly agreed to act as surety on a loan given by ace

Question: Friendly agreed to act as surety on a loan given by Ace Finance Company to James. When James could not repay the loan, Ace came directly to Friendly for payment without attempting to get the money from James. Friendly refused to pay, claiming that Ace should first try to collect from James. Is Friendly correct?

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Management Theories: Friendly agreed to act as surety on a loan given by ace

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Management Theories: Friendly agreed to act as surety on a loan given by ace

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