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:

Well-being

The state of being comfortable, healthy, or happy, encompassing physical, mental, and social domains.

Safety Concerns

Issues or situations that may pose a risk of harm to individuals or communities.

Neutral Location

A place agreed upon by all parties involved where no one has a particular advantage or authority.

Daylight Hours

The period during a 24-hour day when the sun is above the horizon, providing natural light.