John was indebted to Stan on a loan for $1,000.Stan assigned John's promise to pay to Bob.
-Josephine is the executor of her father's will.She does not want to liquidate any part of his stock portfolio at this time to pay off a large debt he owed Tom,because the market is very low right now and she would likely get a better price later in the year.Her verbal promise to Tom that she will repay him herself is unenforceable.

Question

Quizplus · Accepted Answer

A verbal promise to pay another person's debt is generally unenforceable under the Statute of Frauds, which requires such promises to be in writing to be legally binding.

John Was Indebted to Stan on a Loan for $1,000