Ilsa and Jiffy Loan Company enter into an oral contract under which Ilsa agrees to pay Kyle's debt if he does not. Ilsa does not get any per?sonal benefit for the agreement. This contract is enforceable by
A) any party.
B) Jiffy only.
C) Jiffy or Kyle.
D) none of the parties.

Question

Quizplus · Accepted Answer

The contract is not enforceable because it is a suretyship agreement, which typically must be in writing to be enforceable under the Statute of Frauds. Since Ilsa does not receive any personal benefit, the oral agreement does not satisfy the exception to the writing requirement.

Ilsa and Jiffy Loan Company Enter into an Oral Contract