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Pumps Inc Agrees to Assume a Debt of Quality Parts Company

question 46

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Pumps Inc. agrees to assume a debt of Quality Parts Company to Reliable Finance LP. The agreement is not in writing. To be enforceable, the promise must be for the benefit of


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Social Security

A government program that provides financial assistance to people with inadequate or no income, especially the elderly, disabled, and families with dependent children.

Individual Retirement Account

A financial tool used for saving towards retirement that offers tax advantages.

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