Fred agrees to assume a debt owed by Guitars Inc. to Home Bank. The agreement is not in writing. To be enforceable under the "main purpose" rule, the promise must be for the benefit of

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Under the "main purpose" rule, the promise to assume the debt must primarily benefit the promisor, Fred, for the agreement to be enforceable even if it is not in writing.

Fred Agrees to Assume a Debt Owed by Guitars Inc