Matrix,Inc

question 34

Multiple Choice

Matrix,Inc.is the general contractor of a large commercial building project.Matrix subcontracted with Acme Flooring,Inc.to have flooring installed throughout the building.When Matrix failed to make payments to Acme as agreed,Acme stopped working.Commercial Bank,the lender for the project,orally promised Acme that Commercial would pay whatever Matrix failed to pay Acme if Acme would resume work.Acme finished the flooring,but was still not paid.Which of the following is true under the Statute of Frauds?

• A)According to the primary objective test,Commercial Bank is not obliged to pay Acme as the promise must be written and signed.
• B)According to the primary objective test,since Commercial Bank's promise enhanced its mortgage interest,it is liable for payment to Acme.
• C)According to the main purpose test,Commercial Bank is not obliged to pay to Acme since Matrix was not a party to its promise.
• D)According to the primary objective test,since Commercial Bank's promise did not involve the actual lending of money,it is not liable to Acme.

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Definitions:

Psychopathy

A personality disorder characterized by persistent antisocial behavior, impaired empathy and remorse, and bold, disinhibited, and egotistical traits.

Biological Perspectives

Approaches in psychology and sociology that explain behavior and societal structures through biological processes and inherent genetic traits.

Psychopathic Behaviour

Actions or behaviors associated with psychopathy, a personality disorder characterized by persistent antisocial behavior, impaired empathy, and bold, disinhibited, egotistical traits.

Low-Income Neighbourhoods

Parts of a town or city where residents generally have low annual household income, which often affects their living conditions and access to resources.