A Party's Oral Promise to Pay Another's Debt Is Enforceable

question 40

True/False

A party's oral promise to pay another's debt is enforceable if the guarantor's main purpose is to secure a personal benefit.

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Definitions:

Research Project

A structured inquiry that aims to obtain a deeper understanding or seek answers to specific questions through scientific methods.

Validity

The extent to which a concept, conclusion, or measurement is well-founded and corresponds accurately to the real world.

Psychiatrist

A medical doctor specializing in the diagnosis, prevention, study, and treatment of mental disorders.

Anxiety

A feeling of worry, nervousness, or unease, typically about an imminent event or something with an uncertain outcome.