Uncle Rodrick Was Deeply in Debt When He Died

question 15

Multiple Choice

Uncle Rodrick was deeply in debt when he died.His niece,Evangeline,became the administrator of his estate.She orally promised Rodrick's creditors that she would personally pay his debts if they would not publicize the fact that Rodrick died in debt.When Evangeline was unable to pay the debts,the creditors sued her.Will the creditors be legally able to collect from Evangeline?

• A)Yes,since there was a bargained-for exchange.
• B)No,since Evangeline was not Rodrick's child.
• C)Yes,since Evangeline made a guaranty of payment.
• D)No,since Evangeline's promise was not in writing and signed.

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Definitions:

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Setup Time

The duration required to prepare or adjust equipment before a production process begins, minimizing this time can increase efficiency.

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The optimum quantity of goods a company should order for production which minimizes total inventory costs.