BUS311_chapter_05

Thisistrueevenifangelais29

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Unformatted text preview: f another from a contract entered into for another’s benefit; only the former need be in writing. Example 5.16. Jenna promises Roman, “If you’ll deliver this bicycle to my son Aaron in time for his birthday, I’ll pay you the full price of $400 next Thursday.” This agreement need not be in writing since it is not a contract to answer for the debt of another—Jenna is the buyer in this agreement, and the debt created is her own, not Aaron’s. rog80328_05_c05_089-110.indd 99 10/26/12 5:37 PM Section 5.4 Unenforceable Contracts and the Statute of Frauds CHAPTER 5 One type of promise to pay the debt of another arises when the executor of an estate promises personally to pay debts of the deceased. If, for example, Edward, an executor, agrees to pay for funeral expenses out of his own funds, rather than from estate funds, the contract would have to be in writing and signed by him in order to be enforceable. A general exception to the statute of frauds is when the party trying to avoid performing makes an admission that he or she did indeed make that promise. F...
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This test prep was uploaded on 04/09/2014 for the course BUS 311 taught by Professor Parker during the Spring '10 term at Ashford University.

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