CSUN Horne Needed a Loan to Acquire an Automobile Discussion

Question Description

I’m working on a business law discussion question and need an explanation and answer to help me learn.

Krista Babcock cosigned an automobile loan agreement that enabled her friend, Horne, to obtain a $5,000 loan to acquire an automobile from a third party. Horne defaulted on the loan after making a number of payments, and Babcock paid $2,000 to the lending institution to pay off the remaining balance on the loan. Babcock then brought suit against Horne to recover the $2,000. Is she entitled to recover the $2,000? fully explain using the IRAC method.

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