What is true regarding a written promise to pay a barred debt?

A written promise to pay a barred debt is considered valid even without consideration. In legal terms, a barred debt refers to a debt that is no longer enforceable due to the expiration of the statutory limitation period. When a debtor makes a written promise to pay this debt, it may revive the enforceability of the debt, regardless of whether there is new consideration provided at that time.

This principle is grounded in the idea that while a contract typically requires consideration to be enforceable, a written acknowledgment of a debt can serve to reset the legal obligations surrounding it. In many jurisdictions, such an acknowledgment creates a new obligation to pay, allowing creditors a second chance to collect on the debt.

The other options relate to various aspects of contract law that do not apply in this particular scenario. For example, while consideration is usually necessary for a valid contract, the unique nature of a written promise for a barred debt means that it stands on its own merit without that requirement. Similarly, while witness signatures can enhance enforceability in some contexts, they are not a requirement for the promise to be recognized as valid. The notion that it only holds if the debtor agrees aligns more with negotiations rather than established legal standards concerning barred debts.