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A student will tune out automobile advertising until he graduates and can then afford car payments. This demonstrates the theory of
Collateral Promise
An ancillary agreement to answer for the debt or obligation of another person if that person fails to meet their obligation.
Principal Debtor's Debt
The main amount of money that a debtor is obligated to pay back, excluding interest or additional fees.
Oral
Relating to the spoken word or communication by mouth, as opposed to written or non-verbal means.
Writing Requirement
A legal principle stating that certain kinds of contracts or agreements must be in writing to be enforceable.
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