A Fully-Performed Oral Contract That Should Have Been in Writing

question 121

True/False

A fully-performed oral contract that should have been in writing under the Statute of Frauds can be rescinded by either party.

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Definitions:

Regular Cash Dividend

A fixed amount paid to shareholders out of a company's profits on a regular schedule.

Liquidating Dividend

A type of dividend paid by a company from its capital rather than its earnings, often during dissolution or winding down.

Date of Record

The cut-off date set by a company in order to determine which shareholders are eligible to receive a dividend or distribution.