A(n)______ to pay the debts or settle the wrongdoings of another if he or she does not make settlement personally is not enforceable unless it is written.
A) guaranty
B) warranty
C) memorandum
D) statute

Question

Quizplus · Accepted Answer

A guaranty is a legal agreement to pay off the debts or settle the wrongdoings of another if he or she does not make settlement personally. However, for an enforceable guarantee, it must be in writing. Warranties refer to promises made by a seller to a buyer regarding the quality or performance of goods sold. Memorandum refers to a written record of an agreement, while statute refers to a formal law or legal code.

A(n)______ to Pay the Debts or Settle the Wrongdoings of Another