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Understanding the rights that a person has to collect a debt is important to collecting on transactions after a party$$s default.

Read the case below and answer the questions that follow.

Athletic Enterprises, Incorporated $($Athletic$)$ was a small corporation that furnished swimming equipment to retail customers. Athletic$$s president, Bryce, realized that most of Athletic$$s customers were triathletes. To cater to that market, Bryce decided to expand Athletic by also selling high$-$end bicycles and running shoes. To do so$,$ Athletic needed to borrow some money to invest in bicycles for resale. Bryce took a loan from National Bank. For National Bank to give the loan, it was required that Bryce must personally cosign as a party to the loan along with Athletic. To finance the purchase of shoes for inventory, Bryce arranged a loan with Central Bank. For Central Bank to lend money to Athletic, it required that another person be secondarily liable on the loan if Athletic did not repay it$.$ Bryce$$s son Charles agreed to do so$.$ Part of the money from both loans is put in to expand Athletic$$s building. Bryce hired Leo to do the construction.

What is Bryce$$s role in the loan from National Bank?

Multiple Choice

Bryce is a surety.

Bryce is a mortgagor.

Bryce is a mortgagee.

Bryce is a guarantor.

Bryce is a creditor.

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