In a Creditor Beneficiary Contract,if the New Debtor Fails to Perform

question 60

Multiple Choice

In a creditor beneficiary contract,if the new debtor fails to perform according to the new contract,the creditor beneficiary can ________.

• A) enforce the original contract against the original debtor
• B) sue the original promisor on the second contract
• C) hold both the new and the original debtors liable for nonperformance
• D) benefit from imposing the new contract on the original debtor

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Definitions:

E-Mail Only

Communication strictly limited to electronic mail, without the use of traditional postal services or other forms of messaging.

Option Contract

A financial derivative that gives the buyer the right, but not the obligation, to buy or sell an asset at an agreed price within a specific time period.

Legal Obligation

A duty imposed by law that requires an individual or entity to adhere to a prescribed course of action.

About $100,000

An approximate amount of money or financial value, indicating a sum close to one hundred thousand dollars.