A collateral contract involves:
A) three parties and two promises, one of which is conditional.
B) two parties and two promises, both of which are conditional.
C) two parties and three promises, one of which is conditional.
D) three parties and two promises, both of which are conditional.

Question

Quizplus · Accepted Answer

Collateral contracts involve three parties and two promises, one of which is conditional. Only the conditional promise by the guarantor to the obligee to be responsible for the obligor's debt must be in writing.

A Collateral Contract Involves