Pumps Inc. agrees to assume a debt of Quality Parts Company to Reliable Finance LP. The agreement is not in writing. To be enforceable, the promise must be for the benefit of

Name: Pumps Inc. agrees to assume a debt of Quality Parts Company to Reliable Finance LP. The agreement is not in writing. To be enforceable, the promise must be for the benefit of
Brand: Quizplus
Rating: 4.9 (57 reviews)

Question

Quizplus · Accepted Answer

For the promise to be enforceable without being in writing, it must be for the benefit of the party assuming the debt, which in this case is Pumps.

Pumps Inc Agrees to Assume a Debt of Quality Parts Company