Examlex
In keeping an observational record, which of the following methods tends to be the most objective?
Majority Rule
Majority rule is a decision-making principle whereby the choice of the greater number of participants in a group is accepted as the decision for the whole group.
One-Year Provision
A legal principle stating certain contracts must be in writing if they cannot be performed within one year of their making.
Main Purpose Doctrine
A legal principle that suggests a promise to pay another's debt is not subject to the statute of frauds if the guarantor's main purpose is to serve their own interests.
Suretyship Provision
A clause in a contract that involves a third party (the surety), who agrees to fulfill the obligations of a debtor to a creditor, should the debtor fail to fulfill their contractual obligations.
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