« previous next »

Author Question: Generally, a part payment of a past-due debt is not consideration to support the creditor's promise ... (Read 71 times)

MGLQZ

  • Hero Member
  • *****
  • Posts: 579
on: Jun 24, 2018
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
Reply #1 on: Jun 24, 2018
Answer to Question 1

TRUE

Answer to Question 2

TRUE


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

All adults should have their cholesterol levels checked once every 5 years. During 2009–2010, 69.4% of Americans age 20 and older reported having their cholesterol checked within the last five years.

Did you know?

In most cases, kidneys can recover from almost complete loss of function, such as in acute kidney (renal) failure.

Coral reefs, such as this one in the Red Sea, support some of the most diverse assemblages of organi Coral reefs, such as this one in the Red Sea, support some of the most diverse assemblages of organi
A controlled fire being set as part of ecosystem management in Jasper National Park. A controlled fire being set as part of ecosystem management in Jasper National Park.
The Many Faces of Life (Part 1) The Many Faces of Life (Part 1)
Plant Cell Types (Part 1) Plant Cell Types (Part 1)
How to perform the substitution rule with integrals (Part 1) How to perform the substitution rule with integrals (Part 1)
Part of a Semantic Network in Long-Term Memory Part of a Semantic Network in Long-Term Memory
Video: Introduction to Autism

For a complete list of videos, visit our video library