Problem:
Molly has just graduated from the college when her car breaks down. She requires buying a new car quickly so she can get to and from her new job. But, her credit history is not very long and she needs someone else to sign her car loan. You promise lender in writing which you will make Molly’s car payments and be accountable for them only if she first defaults on her loan. Is this a surety ship or the guarantee? Discuss