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| Dent Corporation received a loan from Jardine Finance Company. As part of the signed written agreement, Jardine required that one of the members of the board of directors of Dent Corporation act as a surety for the entire loan. The loan agreement also called for some of Dent’s real estate to be used as collateral for 50% of the loan. Which of the following is not correct? A. When the loan is due, Jardine must first seek collection of the loan from Dent before resorting to the surety or the collateral. B. If Jardine recovers more than half of the loan amount upon resale of the collateral, Jardine must pay the excess to Dent. C. Jardine may choose to proceed against the surety for the entire loan when the loan is due. D. When the loan is due, if the collateral does not contribute to half of the loan, Jardine may seek to recover the entire remainder from the surety without resorting to the corporation. |