John is president and sole shareholder of Photo Inc. Photo Inc., wishes to borrow money, but to
do so, the bank requires John to orally guarantee to repay the loan if Photo Inc., cannot. John's
guaranty to repay is:
A) Enforceable, because the main purpose of the loan and the guarantee was to benefit John.
B) Enforceable, because in general, guaranty contracts do not need to be in writing.
C) Unenforceable, because in general, guaranty contracts need to be in writing.
D) Unenforceable, because John did not sign any agreement.
A
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A written statement of what a jobholder does, how the job is done, and why it is done is called a ________
A) job specification B) work standard C) job classification D) chain of command E) job description
Keith hosts a New Year's Eve party, and Margaret attends the party. She drinks several beers at the party, and Keith provided the beers. She leaves the party in her car, has an accident and is injured. Which of the following is true?
A) All judges are required to find that Keith is liable for Margaret's injuries. B) No judge will find that Keith is liable for Margaret's injuries, since he was not serving alcohol for a profit. C) Margaret cannot sue Keith for any injuries sustained, since she voluntarily consumed the alcohol. D) None of the above