Examlex
The most thrilling part of a roller coaster ride is the speed of the rapid descent. Yet your excitement begins to build as you wait in line and gradually increases as you board the train, strap yourself in, and begin the slow incline. These increments in level of excitement during this whole process are an example of
Statute of Frauds
A legal concept that requires certain types of contracts to be in writing and signed by the party to be charged, in order to be legally enforceable.
Collateral Promise
A collateral promise is a secondary agreement that one party will assume responsibility for another's debt or obligation if that other party fails to fulfill it.
Secondary Obligations
Duties or liabilities that arise not from the primary contract but as a result of ancillary or supplementary agreements or circumstances.
Statute of Frauds
A legal concept that requires certain types of contracts to be in writing and signed by all parties involved to be enforceable.
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