Silvia is trying to sign up for electric service, but she has never had any kind of utility services in her name before. Based on this, the electric company has asked her to find someone whose name will also go on the electric service and agrees to take responsibility for payment if she cannot. What term BEST describes this person? (1 point) Responses an insurance policy an insurance policy an electric partner an electric partner a cosigner a cosigner a sub-renter
The term that best describes the person who agrees to take responsibility for payment if Silvia cannot is a "cosigner." A cosigner is someone who signs a legal agreement to take on equal responsibility for a debt or obligation in the event the primary borrower cannot fulfill their obligations. In this case, the electric company is requiring Silvia to have a cosigner since she has no previous utility service history in her name. The cosigner ensures that if Silvia fails to pay for the electric service, the cosigner will be responsible for the payment.
The term that BEST describes the person who agrees to take responsibility for payment if Silvia cannot is "a cosigner".
