Which of the Following Is NOT a Condition That Must

question 31

Multiple Choice

Which of the following is NOT a condition that must be satisfied before a court will accept part performance of a contract as evidence of the contract in place of the written contract?

• A) The acts of performance must not be ambiguous and capable of being explained as part of a different contract.
• B) The act of performance must disclose all the terms of the contract.
• C) The plaintiff must perform the acts and, if the contract is enforced, must suffer a loss by the performance of those acts.
• D) The acts of performance must clearly suggest the existence of a contract respecting the land in question.
• E) The contract must be one concerning land.

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Definitions:

Maturity

The date on which a financial obligation must be repaid in full or the point at which an investment reaches its full value.

Time Period

A specific duration for which financial or operational activities are measured, analyzed, and reported.

Lessee

An entity or individual that leases or rents property or equipment from another.

Operating Lease

A leasing agreement allowing a lessee to use an asset without owning it, typically with shorter terms than a capital lease.