X Wished to Purchase a Motor Vehicle from Y on Credit

question 49

True/False

X wished to purchase a motor vehicle from Y on credit, but X was unemployed, and Y was hesitant to sell to him for that reason. Z, who was quite wealthy, said to Y: "Sell X the automobile on credit, and if X does not pay you, I will." If Z made the guarantee in writing, and signed the document, the guarantee would not be enforceable until X defaulted on a demand for payment by Y.

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Congressional Limits

Restrictions and powers defined by the U.S. Constitution that govern the legislative actions of Congress.

Funding Decisions

Choices made by individuals, organizations, or governments about allocating financial resources to specific projects, programs, or initiatives.

Precedents Concept

The legal principle that future cases should be decided based on the rulings in previous similar cases, helping to ensure consistency and predictability in the law.

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The three-tiered structure of federal courts in the United States, comprising the Supreme Court, appellate courts, and district courts, responsible for interpreting the law.