What are simpsons rights, Pamela Darden owed Clark $50,000

What are simpsons rights

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Reference no: EM131389711

Pamela Darden owed Clark $50,000 on an unsecured loan. On May 1, Pamela approached Clark for an additional loan of $30,000. Clark agreed to make the loan only if Pamela could obtain a surety. On May 5, Simpson agreed to be a surety on the $30,000 loan, which was granted that day. Both loans were due on October 1. On June 15, Pamela sent $10,000 to Clark but did not provide any instructions.

a. What are Clark's rights?

b. What are Simpson's rights?

Reference no: EM131389711

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