According to Most States' Laws, to Be Enforceable as a Contract

question 9

Multiple Choice

According to most states' laws, to be enforceable as a contract under the Statute of Frauds, a writing must

• A) contain both contracting parties' signatures.
• B) describe the parties.
• C) name the parties.
• D) recite the parties' intent.

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Definitions:

Telecommunications

The transmission of signals, messages, words, writings, images, and sounds or information of any nature by wire, radio, optical, or other electromagnetic systems.

Market Price

The market price is the amount for which something can be sold on a given market, reflecting supply and demand dynamics at a specific point in time.

Residual Claimant

An individual or entity entitled to make a claim on the residual value of an entity's assets after all liabilities have been paid in the event of a liquidation.

Equity/Shareholders

Refers to the ownership interest held by shareholders in a corporation, represented by the company's common and preferred stock.