Which of the Following Constitutes a Sufficient Signature Under the Statute

question 18

Multiple Choice

Which of the following constitutes a sufficient signature under the Statute of Frauds?

• A) the complete signature of the party
• B) a signature affixed by an authorized agent
• C) a party's first name or nickname
• D) A and B only
• E) A,B,and C

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Definitions:

Straight-Line Method

A method of calculating depreciation of an asset by evenly spreading its cost over its expected useful life.

Salvage Value

The estimated residual value of an asset after its useful life has ended and it can no longer be used for its originally intended purpose.

Depreciation Expense

The allocation of the cost of a tangible asset over its useful life, reflecting how much of the asset's value has been used up during a specific period.

Useful Life

The estimated period over which an asset is expected to be utilizable or productive before it is fully depreciated.