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A Promise to Perform the Obligation of Another Person If

question 49

Essay

A promise to perform the obligation of another person if that person defaults is referred to at law as a guarantee.It will usually arise in one of three common business situations.Briefly describe these circumstances.


Definitions:

Legal Requirements

Specific laws, regulations, and standards that individuals or organizations must follow.

HR Professionals

Individuals specializing in managing human resources practices and policies, focused on recruitment, training, and employee relations.

Line Managers

Managers who are directly responsible for overseeing and managing the work of operational or frontline employees.

Employee Discount

A benefit offered by some employers, allowing their employees to purchase the company's products or services at a reduced price.

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