Hamilton Humphrey is the father of J.P. Humphrey, vice president of small electronics firm known as Electro -Aeronau tics, Inc. In January, 1986, the company decided to radically overhaul its manufacturing processes and borrowed \$20 200,000 from the City National Bank for this purpose. The loan was se. cured by a mortgage on the plant and building site and would become due on February 1, 1987 When the debt came due, Electra-Aeronautics was shon of ready cash and City National threatened to foreclose. Hamilton Humphrey then intervened on behalf of the company and told the Bank officials that if they would refrain from any legal action against the company for a year until February 1, 1988he Would personally see that the debt was paid. The bank orally agreed to Hamilton's surety arrangement. However, it was never reduced to writing On April 15 1987the Bank filed a foreclosure suit against Electro- Aeronautics. Hamilton Humphrey did not learn of the suit until a week later, but he raised no objection, since he thought the Bank was violating its agreement with him by fore dosing prior to February 11988 , and thus relieving him of his part of the bargain . Two weeks later, on May 1, 1987, the Bank's loan officer called Hamilton Humphrey and said that the Bank would hold off on the foreclosure suit as per their agreement since the com pany had just made new technological development which would place it in a very lucrative and competitive position.

The Bank's promise to Humphrey in February 1987 to re frain from foreclosing on the mortgage until February 1 1988, would constitute A) a void promise at the time of inception (B) a voidable promise as violative of the Statute of Frauds (C) an unenforceable promise , because Electro Aeronautics had a pre-existing duty to pay the debt at maturity (D) an enforceable promise, binding Humphrey as a surety

With regard to Humphrey's obligation under his Febru ary 1987 agreement with the Bank, the court would most likely A) relieve Humphrey of liability, because the Bank filed for foreclosure of the mortgage (B) relieve Humphrey of liability, because Humphrey was never under a duty as a surely relieve Humphrey of liability , because of the Main Purpose Exception D) not relieve Humphrey of liability , because his surety duty sprang back on May 1, 1987

Assume for the purposes of this question only that soon after the new technological development place, Electro Aeronautics' business fortunes declined, which re sulted in their insolvencyIn an action by the Bank against the appointed receiver in bankruptcy and Hamilton Humphrey, the Bank will most likely recover for the standing loan from (A) Humphrey only ) receiver only (C) either Humphrey or receiver (D both Humphrey and receiver