If the main purpose of the promisor (surety) is to obtain an economic benefit that he did not previously enjoy, the promise is not within the statute of frauds.

Question

Quizplus · Accepted Answer

If the main purpose of the surety is to secure an economic benefit for themselves, it is considered a primary obligation and not subject to the statute of frauds, which typically requires certain promises to be in writing.

If the Main Purpose of the Promisor (Surety) Is to Obtain