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Question
Mike owes $12,000 to Nora, $6,000 to Owen, and $6,000 to Pat. The three creditors enter into an agreement with Mike to discharge the debts on payment of a sum of $12,000 to them, to be divided proportionately. This isA.a composition agreement.
B.a guaranty agreement.
C.a judicial lien.
D.a suretyship agreement.
Answer
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