A Contract to Provide a Service to a Person for the Remainder

question 5

True/False

A contract to provide a service to a person for the remainder of that person's life is not required to be in writing under the Statute of Frauds even if the services are to be provided to someone who is young and healthy.

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Definitions:

Money Supply

The comprehensive amount of money assets in an economy at a specific point in time.

United States

A country in North America consisting of 50 states, known for its significant global economic and cultural impact.

Short-term Rate

Interest rates on loans or financial products that are due within a short period, usually one year or less, significant for monetary policy and investment decisions.

Reserve Requirements

Regulations set by central banks regarding the minimum amount of reserves that banks must hold against deposits.