Asked by
Kousaka Kyousuke
on Dec 19, 2024Verified
Pumps Inc. agrees to assume a debt of Quality Parts Company to Reliable Finance LP. The agreement is not in writing. To be enforceable, the promise must be for the benefit of
A) all of the choices.
B) Pumps.
C) Quality.
D) Reliable.
Benefit
An advantage or profit gained from something, often used in legal terms to describe gains in contracts or employment.
Debt
Money that is owed or due to another individual, entity, or institution.
Enforceable
Capable of being imposed by law or through legal action, usually in reference to contracts, agreements, or regulations.
- Comprehend the central principle of the "main purpose" rule within guarantee contracts and its effects on the enforceability of agreements.
Verified Answer
RS
Learning Objectives
- Comprehend the central principle of the "main purpose" rule within guarantee contracts and its effects on the enforceability of agreements.