is Mary's alleged oral promise to guarantee her husband's debts an enforceable guaranty contract? 10.5 Guaranty Contract Glenn A. Page (Glenn) had a long-term friendship

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is Mary's alleged oral promise to guarantee her husband's debts an enforceable guaranty contract?

10.5 Guaranty Contract Glenn A. Page (Glenn) had a long-term friendship with Jerry Sellers, an owner of Gulf Coast Motors. Glenn began borrowing money from Gulf Coast Motors on a recurring basis during a two-year period. The loan process was informal: Gulf Coast Motors set up a ledger account and recorded each loan made to Glenn, and Glenn would sign the ledger "I agree to pay Jerry Sellers as above." At various times, Glenn would make small payments toward his account, but he would thereafter borrow more money. At the times the loans were made, Glenn was not working and had no as- sets in his own name. There was no evidence as to what Glenn used the loan proceeds for, but evidence showed that he had a gambling problem Sellers testified that toward the end of the two-year period of making loans to Glenn, he telephoned Mary R. Page, Glenn's wife, and Mary orally guaranteed to re- pay Glenn's loans. Mary had significant assets of her