Wes,a Neighbour of Stan,wished to Borrow a Sum of Money

question 18

True/False

Wes,a neighbour of Stan,wished to borrow a sum of money from a local bank.Stan was quite wealthy,but elderly,with very poor eyesight.He frequently requested Wes to read his newspaper to him when Wes would drop by for a visit,because reading bothered his eyes.One evening,Wes placed a paper before Stan,and explained to him that he wished to borrow a sum of money,but required a letter of reference before the bank would make the loan.He requested Stan to sign the paper to satisfy this requirement.Stan trusted his friend Wes,and signed the paper at his request without reading it.Unknown to Stan,the paper was a guarantee of Wes's indebtedness,and not a letter of reference.Wes later defaulted on his debt.Wes required Stan's signature on the paper because the Statute of Frauds requires a guarantee to be in writing,and signed to be enforceable

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Definitions:

Team Empowerment

The granting of power, resources, and autonomy to a team, enabling members to take collective decisions and act towards common goals effectively.

Potency

The power or influence something possesses to affect changes or produce significant effects, often used in contexts ranging from medicine to leadership dynamics.

Meaningfulness

The quality of having significance, purpose, or value, giving a sense of fulfillment or importance.

Power

The capacity or ability to direct or influence the behavior of others or the course of events.