Tom orally agrees to be liable for Zalas debt to Ace Loan Company. If Toms purpose for
Question:
Tom orally agrees to be liable for Zala’s debt to Ace Loan Company. If Tom’s purpose for this guaranty is to obtain a personal benefit, the guaranty is
a. enforceable whether or not it is in writing.
b. enforceable only if it is in writing.
c. unenforceable if it is in writing.
d. unenforceable.
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The correct answer is a enforceable whether or not it is in writing Heres why Statute of Frauds Ge...View the full answer
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Related Book For
Business Law Text And Exercises
ISBN: 9780357717417
10th Edition
Authors: Roger LeRoy Miller, William E. Hollowell
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