Contracts (Defenses)

Question 1

What is the exception to the suretyship rule under SOF?

Answer 1

A contract made for the benefit of another (suretyship) will not be enforced, even if its in writing, if its being used to benefit the one who promises to pay the debt of the other

Question 2

An oral K followed up by a merchants confirmatory memo will be enforceable only if:

2 requirements

Answer 2

1. both parties are merchants
2. no objection is made w/n a reasonable time (usually w/n 10 days)