Under the ________,No Writing Is Required Where the Guarantor Makes

question 40

Multiple Choice

Under the ________,no writing is required where the guarantor makes a collateral promise for the main purpose of obtaining some personal economic advantage.

• A)parol evidence rule
• B)leading object rule
• C)collateral contract rule
• D)part performance rule

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Definitions:

Reward System

Mechanisms within an organization designed to recognize and reinforce employee behavior, contributing to the achievement of company goals.

Corporate Philosophy

The fundamental values, beliefs, and principles that guide an organization's decision-making and behaviors, shaping its culture and identity.

Bureaucratic Organization

A formal organizational structure characterized by a clear hierarchy, strict rules, and specialized roles, often found in governments and large corporations.

Flatter Organization

An organizational structure with fewer hierarchical levels, encouraging more direct communication and collaboration.