The Doctrine of Part Performance as It Relates to the Statute

question 16

Multiple Choice

The doctrine of part performance as it relates to the Statute of Frauds means that

• A) a defendant who partly performs an oral contract is entitled to enforce the oral contract.
• B) a plaintiff who partly performs an oral contract is entitled to rely on such performance as evidence of the contract.
• C) if a plaintiff can show that he has partly performed an oral contract concerning land in reliance on the contract, the court will accept the part performance as evidence of the contract in place of the written contract.
• D) if a plaintiff can show that he has performed part of any oral contract, the court will accept such part performance as evidence of the contract in place of the written contract.
• E) if the plaintiff can show that it has partly performed a contract, then the defendant will have to pay for the portion of the contract performed.

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Definitions:

Traditional Management Accounting

An approach to management accounting that focuses on cost control, financial analysis, and budgetary control, often using standard costing and variance analysis.

Financial Performance Measures

Metrics used to evaluate an entity's financial health and business performance, such as profitability ratios, liquidity ratios, and solvency ratios.

Volume-Related Activity

Activities within a manufacturing or production process that vary directly with the volume of output.

Cost Control

The process of monitoring and reducing business expenses to increase profits.