Asked by
Cynthia Elizabeth
on Nov 27, 2024
Verified
Daredevil Rides Inc. owes debts to Equipment Company and Food Supplies, Inc. Equipment orally agrees to assume Daredevil's debt to Food to prevent the concessionaire from filing a suit against Daredevil. This agreement is enforceable by
A) none of the choices.
B) Daredevil, Equipment, or Food.
C) Daredevil only.
D) Equipment only.
Debt
Money owed by one party, the debtor, to another party, the creditor; an obligation to pay or do something.
Enforceable
Legally binding; capable of being upheld or imposed in a court of law.
Concessionaire
An entity granted the right to operate a business within the premises owned by another, often in public or entertainment venues.
- Understand the significance of oral agreements and the criteria for their enforcement.
- Acquire knowledge of the "main purpose" rule's core intent in guarantee contracts and its consequences on contractual validity.
Verified Answer
MW
Learning Objectives
- Understand the significance of oral agreements and the criteria for their enforcement.
- Acquire knowledge of the "main purpose" rule's core intent in guarantee contracts and its consequences on contractual validity.