Author Question: Generally, a part payment of a past-due debt is not consideration to support the creditor's promise ... (Read 69 times)

MGLQZ

  • Hero Member
  • *****
  • Posts: 579
Generally, a part payment of a past-due debt is not consideration to support the creditor's promise to cancel the balance of the debt.
  Indicate whether the statement is true or false

Question 2

If the main purpose of a promise is to pay the debt of another and benefit the promisor, the statute of frauds is not applicable, and the oral promise to pay the debt is binding.
  Indicate whether the statement is true or false



Jossy

  • Sr. Member
  • ****
  • Posts: 336
Answer to Question 1

TRUE

Answer to Question 2

TRUE



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

For a complete list of videos, visit our video library