The Primary Significance of Requiring Only the Signature of the Party

question 50

Multiple Choice

The primary significance of requiring only the signature of the party "against whom enforcement is sought" under the Statute of Frauds is that:

• A) the court will check to see that the signatures of both parties are present
• B) the contract need not be signed by the party seeking to enforce the contract
• C) parties can be penalized for failing to sign a written contract
• D) a party's signature must be present in order to introduce evidence from outside the four corners of the contract

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Definitions:

Interest Rate

A fee that's calculated as a proportion of the principal sum and is required by the lender from the borrower for lending money or assets.

$M

A shorthand notation for million dollars, used mainly in financial contexts to denote monetary values.

Interest Rate

The percentage charged on borrowed money, reflecting the cost of borrowing or the gain from saving.

Capital Projects

Large-scale investment projects that require significant amounts of capital, typically in infrastructure, buildings, or technology, aiming for long-term benefits.