When ________ of the Promisor's Promise to Pay the Debt

question 13

Multiple Choice

When ________ of the promisor's promise to pay the debt of another is to benefit the promisor, the statute of frauds is not applicable, and the oral promise to pay the debt is binding.

• A) part performance.
• B) an oral version.
• C) the main purpose.
• D) promissory estoppel.

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Definitions:

Core Values

Fundamental beliefs or guiding principles that dictate behavior and can help people understand the difference between right and wrong within an organization.

Performance Excellence

Achieving outstanding levels of performance that meet or exceed an organization's goals and stakeholders' expectations, through continuous improvement practices and quality management.

Worker Involvement

The practice of including employees in the decision-making process of a business, often to improve morale, productivity, and ownership of work.

Core Values

These are the fundamental beliefs of a person or organization, guiding principles that dictate behavior and action.