Ethel's Exercise World plans to order three weight machines from Pete's Push, Pedal and Pull, Inc. for a total of $15,000. Pete's demands that Ethel's friend, Moneybags, a wealthy independent businesswoman (not connected with Ethel's business in any way), promise to pay Pete's for the three machines if Ethel's Exercise World does not. Which of the promises in this problem must be in writing to be enforceable?

A. The promise made by Ethel's Exercise World to buy the weight machines.
B. Moneybag's promise to pay if Ethel's Exercise World doesn't.
C. Both Moneybag's promise and Ethel's Exercise World's promise.
D. Neither of the promises in this problem needs to be in writing.

Question

14-12-2024
Business

High School

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Ethel's Exercise World plans to order three weight machines from Pete's Push, Pedal and Pull, Inc. for a total of $15,000. Pete's demands that Ethel's friend, Moneybags, a wealthy independent businesswoman (not connected with Ethel's business in any way), promise to pay Pete's for the three machines if Ethel's Exercise World does not. Which of the promises in this problem must be in writing to be enforceable?

A. The promise made by Ethel's Exercise World to buy the weight machines.
B. Moneybag's promise to pay if Ethel's Exercise World doesn't.
C. Both Moneybag's promise and Ethel's Exercise World's promise.
D. Neither of the promises in this problem needs to be in writing.

Answer :

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Final answer:

Both Ethel's promise to pay $15,000 for the fitness machines and Moneybags' guarantee to fulfill that obligation if Ethel defaults need to be in writing to be enforceable. This is due to the requirements of the Statute of Frauds, which mandates written contracts for sales of goods exceeding $500 and surety agreements.

Explanation:

Ethel's Promise to pay $15,000 for the fitness machines and Moneybags' undertaking to assume the obligation if Ethel defaults need to be in writing to be enforceable. This requirement is a principle of the Statute of Frauds.

Under this legal provision, certain types of contracts must be in writing to be legally enforceable, including contracts for sales of goods exceeding a certain amount (often $500) and surety agreements where a third party (like Moneybags) guarantees to fulfill another party's obligation if that other party defaults. Given that the fitness machines presumably cost more than $500 and Moneybags is effectively acting as a surety for Ethel's obligation to Pete's Push, Pedal, and Pull, Inc., both Ethel's and Moneybags' respective promises likely need to be in writing to enforce compliance with the contract legally.

Learn more about Statute of Frauds here:

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