A Written Modification to an Oral Contract Is Required If

question 10

Multiple Choice

A written modification to an oral contract is required if the oral modification to the contract ________.

• A) has been performed to an extent
• B) is within the Statutes of Frauds
• C) involves specially manufactured goods
• D) is worth less than $500 in costs

---

Definitions:

Consumption

is the process by which goods and services are used by individuals or businesses, ultimately leading to the satisfaction of human wants or needs.

Broad Stock Market Index

A financial index that tracks the performance of a wide range of stocks, representing a large segment of the equity market.

U.S. Treasury Bonds

Long-term government debt securities issued by the United States Department of the Treasury with maturities greater than 10 years.

Managed Mutual Fund

A type of investment fund that is professionally managed, where investors pool their money to be invested in a diversified portfolio of securities.