In Which of the Following Situations Involving Oral Contracts Can

question 64

Multiple Choice

In which of the following situations involving oral contracts can the Statute of Frauds be raised?

• A)if a written confirmation has not been objected by a party in an oral agreement
• B)if the seller of specially manufactured goods has made a commitment for their procurement
• C)if the party against whom enforcement of an oral contract is sought has not admitted in pleadings in court of such a contract
• D)when a contract that requires written confirmation has been agreed orally

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Definitions:

Output Increases

A rise in the quantity of goods or services produced by a firm or economy.

Scale of Operations

The size or level at which a company or plant is operating, indicating its capacity to produce goods or services.

Average Cost Curve

A graphical depiction showing the cost per unit of output at different levels of production, reflecting the variability in total cost over volume.

Positive Profit

A financial gain that occurs when the revenues received from business activities exceed the expenses, costs, and taxes needed to sustain the activity.