22 Oct 2020
A party who signs an instrument “collection guaranteed”
A. Is a co-maker of the instrument
B. Is an endorser of the instrument
C. Must pay if the maker does not pay when the instrument comes due, whether the holder sues the maker on the debt or not.
D. Is not liable to pay on the instrument until the holder has taken the maker to court and gotten a judgment against the maker that cannot be satisfied.