BLAW 3201 Study Guide - Quiz Guide: Oral Contract, Surety, Quasi-Contract
Document Summary
Electronic records- full effect is given to electronic contracts and signatures. Suretyship provision- applies to promises to pay the debt of others. Ex: if a mother tells a merchant to extend ,000 worth of credit to her son and says if he doesn"t pay, i will. she only has to pay if her son fails to. Promise must be collateral- promisor must be secondarily, not primarily, liable. Main purpose doctrine- if the primary object is to provide an economic benefit to the surety, then the promise is not within the statute. Executor-administrator provision- applies to promises to answer personally for duties of decedents. Marriage provision- applies to promises made in consideration of marriage but not to mutual promises to marry. Ex: if greg and betsy each orally promise and agree to marry each other, their agreement is not within the statute and is a binding contract them.
