Asked by Kristian Johnston on Apr 25, 2024
Verified
Uncle Rodrick was deeply in debt when he died.His niece,Evangeline,became the administrator of his estate.She orally promised Rodrick's creditors that she would personally pay his debts if they would not publicize the fact that Rodrick died in debt.When Evangeline was unable to pay the debts,the creditors sued her.Will the creditors be legally able to collect from Evangeline?
A) Yes,since there was a bargained-for exchange.
B) No,since Evangeline was not Rodrick's child.
C) Yes,since Evangeline made a guaranty of payment.
D) No,since Evangeline's promise was not in writing and signed.
Guaranty
A legal commitment by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults.
Enforceable
A legal term referring to a contract or agreement that can be upheld and compelled by law.
- Recognize the legal obligations arising from personal guarantees.
Verified Answer
MC
Maxine Chelsea7 days ago
Final Answer :
D
Explanation :
Evangeline's promise to pay another's debt must be in writing to be enforceable under the Statute of Frauds. Since her promise was oral, it does not meet this requirement.
Learning Objectives
- Recognize the legal obligations arising from personal guarantees.