“In distinguishing oral promises as either guarantees or indemnities under the Statute of Frauds 1677, the classic criterion relying on interest in the transaction was not to be taken literally; not every interest in the transaction took the promise out of the statute.”
The Times, 19th December 2007
Source: www.timesonline.co.uk
Please note the Times Law Reports are only available free on Times Online for 21 days from the date of publication.
