[AMERICANDREAM]

Becker Question –

MYLEGS’ “E” stands for Executor’s promise to pay estate debt out of personal funds.

Could someone give me an example for this? If I simply promise to pay my friend’s debt, does that fall under this concept?

[AMERICANDREAM]

Anyone?

[Karessa]

If you skip ahead in the REG material (I want to say REG 5?), the chapter covers executorships more thoroughly.

If you enter a contract as an executor, you're agreeing to pay the debt of another should the creditor try to collect from you directly, instead of the original debtor. Of course, an executor has caveats they can use (fraud by the creditor, release of peer executors, etc.)

Hopefully that helps!

[AMERICANDREAM]

Thank you!

[Author]

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