Examlex
Which of the following was created for PANs?
Secondary Promises
Commitments made by a third party to assume responsibility for another's debt or obligation if the original party fails to perform.
Statute of Frauds
An established legal doctrine stipulating some contractual arrangements need to be formalized in writing and authenticated by the signatures of all parties for enforceability.
Third-Party Debts
Debts that involve a creditor and debtor, with a third party also playing a role, either as a guarantor or through some other capacity.
Promissory Estoppel
A legal principle where a promise is enforceable by law, even if made without formal consideration, when a promisor has made a promise to a promisee who then relies on that promise to his or her detriment.
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