The Statute of Frauds Requires That Certain Types of Contracts

question 63

Multiple Choice

The Statute of Frauds requires that certain types of contracts:

• A) be in writing in order to be valid
• B) be in writing in order to be enforceable
• C) contain a promise for an act
• D) have two or more attorneys present at the signing of a written contract

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Definitions:

Aggregate Expenditure

The total amount of spending in an economy, including consumption, investment, government, and net export expenditures.

Real Disposable Income

The income of individuals or the nation after adjusting for inflation, representing the amount of money that households have available for spending and saving after income taxes have been accounted for.

U.S. Exports

Goods or services produced within the United States and sold to buyers in other countries, contributing to the country's economy.

Net Exports

The difference between a country's total value of exports and total value of imports.