BU233 Lecture Notes - Lecture 5: A Void, Rescission, Miscarriage
Document Summary
The majority of contractual disputes are not about the existence of contracts but rather the differing recollections of the terms of the contract and the meaning of the words used. Where an executor makes a promise to a creditor of the estate to pay the creditor personally, that promise cannot be enforced by the creditor unless it has been reduced to writing. O(cid:373)eo(cid:374)e dies, e(cid:454)e(cid:272)utor (cid:373)akes pro(cid:373)ise to pa(cid:455) that perso(cid:374)"s de(cid:271)ts o(cid:374) their (cid:271)ehalf, cannot be enforced unless it is in writing: a promise to answer for the debt, default or miscarriage of another (guarantee) A conditional promise to pay only if the debtor defaults (cid:862)i"ll pa(cid:455) if the(cid:455) do(cid:374)"t(cid:863) Pertains to past, present and future debt. Must be in writing in order to be enforced. Indemnity a promise by a third party to be primarily liable to pay the debt, does not have to be in writing.
