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Question
Bill and Cody agree to guarantee Wyatt's debt. Bill's maximum liability is $60,000, and Cody's is $40,000. Wyatt owes $40,000 and is in default. Bill pays the creditor the entire amount. In the absence of an agreement to the contrary, Bill can recover from CodyA.$0.
B.$16,000.
C.$20,000.
D.$40,000.
Answer
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