Asked by Loretta Foshee on May 13, 2024
Verified
Within the statute of frauds, the ________ is an exception as to when a secondary obligation does not need to be in writing.
A) primary-purpose rule
B) resulting-fact rule
C) main-purpose rule
D) delineated rule
E) personal-obligation standard
Main-Purpose Rule
A legal principle holding that if the main purpose of a guarantor's promise to pay another's debt is to serve the guarantor's own interests, the promise does not need to be in writing to be enforceable.
Secondary Obligation
An obligation that arises only after a primary obligation has not been fulfilled, often seen in guarantor or surety arrangements.
- Recognize deviations from the statute of frauds and the parol evidence rule.
Verified Answer
AK
Asjad KhuwajaMay 19, 2024
Final Answer :
C
Explanation :
The main-purpose rule (also known as the leading-object rule) is an exception within the statute of frauds that allows for a secondary obligation to not be in writing if the main purpose or leading object of the guarantor is to obtain an economic benefit for themselves.
Learning Objectives
- Recognize deviations from the statute of frauds and the parol evidence rule.