If a Guarantor's Oral Promise to Pay a Debt Is

question 5

Multiple Choice

If a guarantor's oral promise to pay a debt is not in writing,which of the following is true?

• A)The guarantor may raise the statute-of-frauds defense.
• B)The guarantor may raise the UCC defense if a sale of a good is involved;otherwise,no defenses are available to the debtor.
• C)There are no defenses available because there is no legal requirement that a guarantor's oral promise be in writing.
• D)The guarantor may raise the consolidation defense.
• E)The guarantor may raise the absence of writing defense.

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Definitions:

Sales Volume

The quantity of products or services sold by a company within a specific period, often used to measure business performance.

Decline Stage

The stage of the product life cycle characterized by decreases in sales and profits.

Appearance

The way that something looks or seems to the eyes or mind, affecting perceptions and judgments.

Functionality

Describes the range of operations that can be performed by a product, system, or service, especially according to its designed specifications.